Genzyme Up After Analyst Day (GENZ)

Genzyme Corporation GENZ held an analyst and investor day today to discuss the market potential of alemtuzumab for multiple sclerosis at an event for investors and analysts in New York. During the two-hour presentation, the company shared internal market research and independent, third-party analysis defining the unmet needs today in MS, key features of the alemtuzumab profile that may address these needs and physician and payer perspectives on the future positioning and uptake of alemtuzumab in the MS market. This research supports forecasts for alemtuzumab adoption and anticipated peak sales of $3-3.5 billion. At last check, shares of GENZ were up 19 cents to $69.98. Genzyme has been in talks recently with Novartis NVS about a potential takeover of the company, but Genzyme's board has deemed the current offer from Novartis as materially undervaluing the company. Genzyme Corporation operates as a biotechnology company worldwide. It focuses on rare genetic disease disorders, renal diseases, orthopaedics, cancers, transplant and immune diseases, and diagnostic and predictive testing areas.