Genzyme closes drug plant due to virus - Business Courier of Cincinnati:

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Investors turned on the company’s stock shortlhy after the news was confirmed pushing Genzyme’s (Nasdaq: GENZ) stocm down roughly 7 percent to $51.80 a share. Genzymde is currently working to sanitize the facilit and is collaborating with regulatory agencies as it works toresumew production. But the company does not expecf the plant to be fully operational until the endof July. The virus is calle d Vesivirus 2117, and company officialx say it has not been shownj to causehuman infection. However, the virus is known to interfere with the growth of cells used to producdebiologic drugs.
Genzyme says the virus was likel y introduced through a nutrient used in themanufacturing process. Genzym e has now confirmed that this virus was the cause of decliness in cell productivity attwo facilities, including the company’x Allston site, in two previous instancex in 2008, which were subsequently fullyh addressed. Genzyme has previously said that it is currently not makinvg enough of the drugs Cerezymefor Gaucher’es disease and Fabrazyme for Fabry disease, to meet projected global demand.
The company is unsure how the virus will affectr the Cerezyme production but expectsa Fabrazyme supply constraints to occurf for a limited period beginning in The company said it will workwith physicians, patientas and regulators to minimize the impact of this “The patients who need these therapiex are our priority,” said Henri A. Termeer, Genzyme’s chairma and chief executive officer. “Wse are confident in the quality of the products produceed in Allston and in our ability to resolvd the issue affectingthe plant. The impactf will be temporary.
” Genzymed identified the virus at the Allstoj plant over the weekend and held a conference call withthe