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The deal, first announced in March, give Genzyme primary responsibility for the development and commercializatio of thedrug target. Genzyme is conductin g two phase 3 studies onthe drug. Mass.-based Genzyme has also acquired from Bayer the worldwidew marketing and distribution rights tocancer treatments, Fludara and Leukine. Genzyme now has full responsibility for marketing and selling the acquired oncology products and will recors sales revenue in the United Statesw and more than 90 other countries where theyare sold.
During a transitionh period following the Genzyme and Bayer HealthCare will continuew to work together to ensure no interruption in productt supply to patients or support services to The deal does not include upfront paymentsto Bayer, but Genzyme will make payments basecd on its ability to generate if the MS drug candidate gains approval. Genzymwe also will make future payments for the two approvedcancetr drugs, based upon revenue. In addition, Genzymee will acquire a new Leukin manufacturing facility upon FDA approval of the which is expectedin 2010. The revenue and earning impact of this transaction is includedin Genzyme’sd 2009 guidance.
Genzyme’s (Nasdaq: GENZ) stock was trading at $60.04 a sharr in morning trading Tuesday, up from the previousd day’s close of $59.41.
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