CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genzyme
Corporation announced today that its first-quarter 2011 revenue grew
7 percent compared with the same period in 2010. Genzyme first-quarter
revenue grew to $1.009 billion from $941.9 million in the first quarter
of 2010.
Genzyme was acquired in a transaction completed on April 8, 2011,
subsequent to the first quarter, and is now a wholly-owned subsidiary of
sanofi-aventis (EURONEXT: SAN and NYSE: SNY). Because information
concerning Genzyme business prospects and research and development is
now found in the public reports of Genzyme’s new parent company
sanofi-aventis, this release is limited to historical sales results for
the period prior to the change of control. Genzyme sales for this period
are not consolidated into the corresponding sanofi-aventis financial
statements.
Business Unit Revenue
Personalized Genetic Health
First-quarter revenue from the Personalized Genetic Health business grew
11 percent to $436.9 million from $392.5 million in the first quarter of
2010.
Revenue of Myozyme® (alglucosidase alfa) / Lumizyme®
(alglucosidase alfa) grew 47 percent in the first quarter to $126.8
million from $86.1 million in the same period last year, driven by U.S.
sales of Lumizyme®, which was approved in May 2010.
First-quarter Cerezyme® revenue was $183.8 million compared
with $179.1 million in the same period in 2010. Sales in the first
quarter were impacted by a delay in lot release with a subsequent impact
on the timing of shipments, as well as delayed tenders. Patients in
Europe and Japan, where there was no inventory available at
distributors, missed one infusion during the quarter. Patients in the
United States did not miss any infusions; all available inventory was
utilized. Overall market share in the first quarter remained stable from
the fourth quarter of 2010.
Sales of Fabrazyme® in the first quarter were $40.9 million
compared with $53.2 million in the same period last year, reflecting
supply constraints. Production levels continued to be lower than needed
to provide patients with full dosing during the quarter. Genzyme expects
to be able to provide full dosing to existing patients in the fourth
quarter.
Biosurgery
First-quarter revenue from Genzyme’s Biosurgery business increased 12
percent to $153.8 million from $137.4 million in the same period last
year. Growth in this segment was driven by sales of Synvisc® (hylan
G-F 20) and Synvisc-One® (hylan G-F 20), which increased 20
percent to $95.3 million from $79.5 million in the first quarter of
2010. In December, Genzyme launched Synvisc® in Japan, the
largest market in the world for viscosupplements, and first-quarter
sales there exceeded expectations.
Hematology and Oncology
First-quarter revenue from Genzyme’s Hematology and Oncology business
grew 7 percent to $166.5 million from $156.3 million in the same period
in 2010. Results reflect strong U.S. growth of Clolar®
(clofarabine), continued market penetration of Mozobil®
(plerixafor injection), and double-digit growth of Thymoglobulin®
(anti-thymocyte globulin, rabbit), offset by lower sales of the oncology
products acquired from Bayer. Genzyme recently received approval of
Thymoglobulin® in Japan for the treatment of acute kidney
transplant rejection.
Renal and Endocrinology
First-quarter revenue from the company’s Renal and Endocrinology
business was $250.7 million compared with $252.4 million in the same
period last year. Results reflect increased sales of Renvela®
(sevelamer carbonate) and Renagel® (sevelamer hydrochloride)
offset by a decrease in sales of Thyrogen® (thyrotropin alfa
for injection) and Hectorol® (doxercalciferol).
Sales of Renvela® and Renagel® grew 14 percent to
$187.4 million from $164.6 million in the first quarter of 2010, driven
by U.S. growth, the impact of a new tender in Brazil, and the continued
successful launch of Renvela® in the EU.
Sales of Thyrogen® decreased in the first quarter due to
supply shortages caused by manufacturing constraints. Inventory levels
of Thyrogen® are expected to remain low through July, causing
temporary shortages in certain countries. The first-quarter decrease in
Hectorol® revenue reflects lower volume due to the launch of
a more efficient dosage formulation for dialysis providers, as well as
the impact of Medicare’s new bundled payment system for the treatment of
end-stage renal disease patients.
About Genzyme
One of the world's leading biotechnology companies, Genzyme is dedicated
to making a major positive impact on the lives of people with serious
diseases. Since its founding in 1981, the company has introduced
breakthrough treatments across several areas of medicine that have
provided new hope for patients. Today, approximately 10,000 Genzyme
employees serve patients in nearly 100 countries.
Genzyme's products are focused on rare inherited disorders, kidney
disease, orthopaedics, cancer, transplant, and immune disease. The
company's commitment to innovation continues today with a substantial
development program focused on these fields, as well as cardiovascular
disease, neurodegenerative diseases, and other areas of unmet medical
need. Genzyme is part of the sanofi-aventis Group.
About sanofi-aventis
Sanofi-aventis, a leading global pharmaceutical company, discovers,
develops and distributes therapeutic solutions to improve the lives of
everyone. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in New
York (NYSE: SNY).
Forward Looking Statements
This press release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements are statements that are not historical facts.
These statements include projections and estimates and their underlying
assumptions, statements regarding plans, objectives, intentions and
expectations with respect to future financial results, events,
operations, services, product development and potential, and statements
regarding future performance. Forward-looking statements are generally
identified by the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans” and similar expressions. Although sanofi-aventis’
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned that
forward-looking information and statements are subject to various risks
and uncertainties, many of which are difficult to predict and generally
beyond the control of sanofi-aventis, that could cause actual results
and developments to differ materially from those expressed in, or
implied or projected by, the forward-looking information and statements.
These risks and uncertainties include among other things, the
uncertainties inherent in research and development, future clinical data
and analysis, including post marketing, decisions by regulatory
authorities, such as the FDA or the EMA, regarding whether and when to
approve any drug, device or biological application that may be filed for
any such product candidates as well as their decisions regarding
labelling and other matters that could affect the availability or
commercial potential of such products candidates, the absence of
guarantee that the products candidates if approved will be commercially
successful, the future approval and commercial success of therapeutic
alternatives, the Group’s ability to benefit from external growth
opportunities as well as those discussed or identified in the public
filings with the SEC and the AMF made by sanofi-aventis, including those
listed under “Risk Factors” and “Cautionary Statement Regarding
Forward-Looking Statements” in sanofi-aventis’ annual report on Form
20-F for the year ended December 31, 2010. Other than as required by
applicable law, sanofi-aventis does not undertake any obligation to
update or revise any forward-looking information or statements.
Genzyme®, Fabrazyme®, Cerezyme®, Myozyme®,
Lumizyme®, Synvisc®, Synvisc-One®,
Clolar® Mozobil®, Thymoglobulin®,
Renvela®, Renagel® Thyrogen®, and
Hectorol® are registered trademarks of Genzyme Corporation or
its subsidiaries. All rights reserved.