Genzyme - Ryan Maroney What's new with Genzyme December 6...

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December 6, 2009 What’s new with Genzyme? Genzyme, a biotechnology company based in Cambridge, Massachusetts, is the third largest biotechnology company in the world. Founded in 1981, Genzyme was established in the attempt to find drugs that could cure enzyme deficiency conditions which if left untreated would eventually lead to shorter and less enjoyable lives for those who are affected by it. These enzyme deficiency conditions only affect an extremely small percentage of the world’s population, and the drugs that Genzyme were developing to treat these conditions were known as “orphan” drugs, or drugs that were specialized to treat one specific rare medical condition. In developing such a drug, Genzyme knew research and development costs would be outrageous high and they would have to essentially put all of their eggs in one basket, but with the sights of a potential major breakthrough in the medical field, the company decided to pursue their goal aggressively. The enzyme deficiency that first attracted Genzyme’s attention was a condition known as Gaucher disease. More specifically, Gaucher disease is a genetic condition in which fatty lipids accumulate in cells and organs. Organs such as the spleen, kidneys, lungs and brain can malfunction as a result of this. It was in 1991 that Genzyme was able to get their drug approved by the FDA for treatment. Ceredase, which would later become Cerezyme, was an enzyme therapy treatment that could stop and also reverse the affliction caused on one by Gaucher disease. The result of this discovery appeared to be a winning situation for Genzyme as well as those suffering from the condition. All of Genzyme’s risks had paid off with their breakthrough
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This note was uploaded on 03/02/2010 for the course ECON 345 taught by Professor Ricks during the Spring '10 term at Bay State.

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Genzyme - Ryan Maroney What's new with Genzyme December 6...

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