Related:
"Genzyme's profit more than doubles
Genzyme Corp.’s second-quarter profit more than doubled, mainly on lower charges and research and development expenses, but the Cambridge company slashed its outlook because of production issues. The company said it earned $192.2 million (AP)."
Here is how they made it, readers. They "earned" it!
"Suit blames Genzyme for stock losses" by Bloomberg News | July 30, 2009
WILMINGTON, Del. - Genzyme Corp. of Cambridge, which lowered its 2009 earnings forecast because of a plant closure, has been sued by a shareholder over claims the company concealed serious issues that caused a shortage in one of its top-selling drugs.
Genzyme shares sank 8.4 percent on July 22 after the company lowered its forecast because the plant closure restricted drug supplies. Genzyme’s misrepresentations caused investors to lose more than $8 billion since August of last year, shareholder Jon Rahn said in a complaint filed yesterday in federal court in Boston.
Genzyme said in June that it would ration two drugs, Cerezyme and Fabrazyme, after shutting its Allston Landing plant in Boston. The company said it needed to decontaminate the factory after detecting a virus called Vesivirus 2117....
What about the VIRUS and CLEAN-UP?
Haven't heard much about that the last month, have you?
--more--"Also see: The Lies of Genzyme
The Needs of Genzyme Outweigh the Needs of All
