Genzyme

Genzyme

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Genzyme

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Description:
Genzyme Corporation () is a fully owned subsidiary of Sanofi-Aventis. Before its acquisition, Genzyme was an American biotechnology company based in Cambridge, Massachusetts. In 2010, Genzyme was the world’s third-largest biotechnology company, employing more than 11,000 people around the world. As a subsidiary of Sanofi-Aventis, Genzyme has a presence in approximately 40 countries, including 17 manufacturing facilities and 9 genetic-testing laboratories, its products are sold in 90 countries. In 2007, Genzyme generated $3.8 billion in revenues with more than 25 products in the market. In 2006 and 2007 Genzyme was named one of Fortune Magazine’s “100 Best Companies to Work for”. The company donated $83 million worth of products worldwide; in 2006, it made $11 million in cash donations. In 2005, Genzyme was awarded the National Medal of Technology, the highest level of honor awarded by the president of the United States to America’s leading innovators.

History

The company, started by Sheridan Snyder and scientist Henry Blair in 1981, was primarily devoted to finding drugs that would cure enzyme deficiency conditions that were essential to human survival and which usually afflict a very small percentage of the world’s population. Drugs used to treat such conditions are considered to be “orphan drugs.” In 1986, the company went public, raising $27 million.

Operations

Genzyme focuses on six areas of medicine relating to lysosomal......
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