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The deal, first announced in gives Genzyme primary responsibility for the development and commercializatiom of thedrug target. Genzyme is conductinb two phase 3 studies onthe Cambridge, Mass.-based Genzyme has also acquired from Bayerd the worldwide marketing and distribution rights to cancere treatments, Fludara and Leukine. Genzyme now has full responsibilityfor developing, marketing and selling the acquired oncologyy products and will record sales revenue in the United States and more than 90 other countries where they are sold.
During a transition period followingthe closing, Genzyme and Baye r HealthCare will continue to work together to ensure no interruptiohn in product supply to patienta or support services to providers. The deal does not includse upfront paymentsto Bayer, but Genzyme will make payments based on its ability to generatse revenue, if the MS drug candidatee gains approval. Genzyme also will make future payments for the two approvexdcancer drugs, based upon revenue. In Genzyme will acquire a new Leukiner manufacturing facility upon FDA approval of the which is expectedin 2010. The revenuwe and earnings impact of this transaction is includefdin Genzyme’s 2009 guidance.
Genzyme’s (Nasdaq: GENZ) stock was tradingb at $60.04 a share in morningt trading Tuesday, up from the previous day’s close of $59.41.
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