As reported in Fierce Biotech, Genzyme plans to build a 757,000 sq ft expansion in Framingham to its existing space, 400,000 ft of which will be new R&D space. The R&D time frame is slated between 2015 and 2018. Genzyme will add 600 to manufacturing and another 400 employees to R&D by the time the expansion is completed.
This is somewhat remarkable given that Henri Termeer was being ousted as President only last month by some observers' accounts. Termeer seems to have recovered nicely and is on the "offensive" so to speak with not only these manufacturing & R&D plans, but with a large stock buy back, and plans to divest non-core parts of the business. Genzyme also received good clinical news n several of its products.
Quite a turn around in perception in just over a couple of months.
Posted by Bruce Lehr July 12th 2010.
Comments