Genzyme Corporation (GENZ) reported fourth quarter earnings of 31 cents per share, which was well below the year-ago earnings of 42 cents. The Zacks Consensus Estimate was 20 cents. Full-year earnings came in at $2.27, well above the year-ago earnings of $1.95.

Performance by Segment

With the company facing manufacturing problems from mid-2009, we were not surprised to see fourth quarter revenues decline. They fell 7.9% to $1.08 billion. Full-year revenues declined 1.9% to $4.5 billion.

Genzyme’s Genetic Diseases business was the most adversely affected by the temporary shutdown of the company’s Allston Landing facility in June 2009. Production and supply of two products, Cerezyme and Fabrazyme, were mainly affected by the temporary shutdown.

Excluding the Genetic Diseases business, fourth-quarter and full-year revenues increased 24% and 15% year over year. Revenues from the Genetic Diseases segment declined 44% to $315 million. For the full year, revenues from this segment declined 20% to $1.8

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Genzyme Corp. (GENZ) reports fourth-quarter results on February 17, with the current Zacks Consensus Estimate at 20 cents per share. Recent revisions to the quarterly estimate have been in both directions, with a very modest upward (positive) bias. Of the 12 estimates for the fourth quarter, three have been raised while two have been lowered in the last 30 days. On balance, the estimate is up from 18 cents per share in the last 30 days.

If quarterly results come inline with expectations, as is most likely given its recent track record, fourth-quarter 2009 EPS would be 52.4% below the year-earlier level. The year-over-year drop is due to the lingering effects of operational issues at the company's Allston Landing, Massachusetts facility. For the full-year 2009, the current Zacks Consensus Estimate is $1.74, only modestly up in the last 30 days. Genzyme earned $1.95 a share in 2008.

In terms of

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Genzyme Corp. (GENZ) recently reported preliminary revenues for the fourth quarter and full year ended December 31, 2009. With the company facing manufacturing problems from mid 2009, we were not surprised to see fourth quarter revenues decline 8% to $1.08 billion. Full year revenues declined 2% to $4.5 billion.

Genzyme’s Genetic Diseases segment was the most adversely affected by the temporary shutdown of the company’s Allston Landing facility in June 2009. The production and supply of two products – Cerezyme and Fabrazyme − were mainly affected by the temporary shutdown. Revenues from the segment declined 43% to $317 million. For the full year, revenues from this segment declined 20% to $1.8 billion. Sales of the lead product Cerezyme declined 65% to $106 million in the fourth quarter. For the year, Cerezyme sales were $793 million, down 34%.

Excluding the Genetic Diseases business, fourth-quarter and full year revenues increased 24% and 15%

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Genzyme Corp. (GENZ) recently reported progress on the resumption of supply of new lots of Cerezyme from its Allston Landing manufacturing facility, which was temporarily shut down due to contamination issues. The company announced that it has started shipping vials of the newly produced Cerezyme.  The initial lot of the Cerezyme shipment will be used to provide uninterrupted treatment to the most vulnerable patients. By the end of Dec, the company expects to expand supply so as to cover those patients who had experienced interruptions in treatment due to the shortage in supply.  Genzyme believes it will be able to meet worldwide demand for the product in the first quarter of 2010. Genzyme also provided an update on the resumption of supply of Fabrazyme, indicated for Fabry disease, which was also affected by the temporary shutdown of the manufacturing facility. The company is preparing to ship ...

Genzyme Corporation’s (GENZ) problems continue with the company recently announcing the discontinuation of the development of its kidney disease drug. Genzyme reported results on its advanced phosphate binder (APB) from a phase II/III study.  Although the candidate met its primary endpoint, results showed that it was not more effective than Renvela, a product that is marketed by Genzyme. Based on these results, the company has decided to discontinue further clinical development of the APB.  Genzyme was looking to develop a product with higher potency that would more effectively bind phosphate, while maintaining all the benefits of Renvela. Renvela is a follow-on product of the company’s kidney disease drug, Renagel. Sales of Renagel/Renvela totaled $677.7 million or 15% of total revenue in 2008.  Renagel and Renvela are phosphate binders for the treatment of hyperphosphatemia. The company was looking to gain approval for the APB before Renagel/Renvela ...

For Immediate Release

Chicago, IL – November 17, 2009 – Zacks Equity Research highlights Sealed Air Corporation (SEE) as the Bull of the Day and Hologic, Inc. (HOLX) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Genzyme Corp.(GENZ), Shire plc (SHPGY) and Protalix BioTherapeutics Inc. (PLX).

Full analysis of all these stocks is available at http://at.zacks.com/?id=5506

Here is a synopsis of all five stocks:

Bull of the Day:

Sealed Air Corporation (SEE) reported third quarter 2009 EPS of 38 cents, above the Zacks Consensus Estimate of 33 cents and the prior-year EPS of 28 cents. The company raised its full-year 2009 EPS guidance to a range between $1.37-$1.45.

The company expects to continue to realize benefits from its cost reduction and productivity programs in the fourth quarter. Also, the company is witnessing improved market conditions in

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Biotech company Genzyme Corp. (GENZ), faced yet another setback recently when the U.S. Food and Drug Administration (FDA) announced that vials of five drugs marketed by the company were found to be contaminated.   The affected drugs include Cerezyme, Myozyme, Fabrazyme, Aldurazyme and Thyrogen. All these drugs, excluding Thyrogen, are indicated for the treatment of rare disorders. The vials were found to be contaminated with stainless steel fragments, non-latex rubber from the vial stopper, and fiber-like material from the manufacturing process which could potentially harm patients.   As adverse events are yet to be reported and given the lack of alternative treatments for these drugs which treat rare disorders, the FDA did not issue a product recall. Instead, Genzyme has issued letters to U.S. healthcare providers reminding them to conduct a visual inspection of the vials and to filter them before using the products.   Genzyme has been ...

For Immediate Release

Chicago, IL – October 22, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: US Bancorp (USB), Visa Inc. (V), Genzyme Corp (GENZ), Shire plc (SHPGY) and Protalix BioTherapeutics Inc. (PLX).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s AnalystBlog:

US Bancorp Exceeds Estimates

US Bancorp (USB) has reported third quarter earnings of $603 million or 30 cents per share. Results were ahead of the Zacks Consensus Estimate of 26 cents, and reflected higher revenue and an increase in fee income.

However, credit losses and nonperforming assets

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This morning, Genzyme Corp (GENZ) reported third quarter earnings of 19 cents per share, which was well below the Zacks Consensus Estimate of 31 cents and the year ago earnings of 93 cents. Moreover, revenues declined 9% to $1.06 billion. As expected, the temporary shutdown of the company’s Allston manufacturing facility earlier this year impacted overall financial results. Although the company has resumed production at this facility, the temporary shutdown led to a disruption in the supply of key products Cerezyme and Fabrazyme. Cerezyme’s performance was highly affected with sales dropping 69.7% to $93.6 million in the reported quarter. Fabrazyme sales came in at $115.2 million, down 8% from the prior-year quarter. Genzyme expects to resume supply of new lots of Cerezyme and Fabrazyme from late November and late December, respectively. The company believes it will be in a position to meet anticipated demand for both ...

On Wednesday, Genzyme Corp. (GENZ) provided a mixed update on its supply schedule for Cerezyme and Fabrazyme. The two key contributors to the company’s top line are produced at its Allston plant. Last June, Genzyme had to temporarily shut down this unit due to contamination issues.

While we were pleased to hear that Cerezyme production is on track and new batches of the product will be available for shipment in the November-December timeframe, we were disappointed to hear that new lots of Fabrazyme will not be available for shipment till mid-December. Moreover, the volume of finished products of Fabrazyme will be lower than expected.

The company said that Fabrazyme bioreactors were restarted later than planned and output from the two bioreactors is expected to be lower. We believe the delay in resumption of normal supply for Fabrazyme could help Shire’s (SHPGY) Replagal gain additional share of the

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