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News Breaks
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November 25, 2009
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| 10:42 EDT |  | GENZ |
| theflyonthewall.com: | Genzyme rises ahead of potential Cerezyme update | | Genzyme (GENZ) is rising slightly after Wells Fargo analysts predicted that the company would provide details about the reintroduction of its Cerezyme drug by tomorrow. Wells Fargo noted that Genzyme had promised during a November 16 conference call to release additional details about the resupply of Cerezyme within the next ten days. The analysts think that an effective reintroduction of Cerezyme without any supply interruptions in coming months will be a crucial factor in the company's ability to rebuild trust and brand loyalty. Genzyme interrupted production of the drug last June, after it identified virus in a bioreactor used to produce the product. Wells Fargo contends that such a reintroduction will also be key to limiting the company's competition, and it predicts that Genzyme's stock will advance after Cerezyme's reintroduction. The firm maintains a Market Weight rating on Genzyme. In mid-morning trading, Genzyme gained 54c, or 1.07%, to $50.93. :theflyonthewall.com |
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