Genzyme Profit Tiny On Quarterly Revenue Dip
The shutdown of Genzyme Corp.'s Allston drug manufacturing facility last year continues to have a negative effect on the biotechnology and pharmaceutical giant, which reported a second quarter profit of just $23,000.
During the same quarter a year ago, the company's profit was $47.6 million.
Second quarter revenue fell 12 percent to $1.08 billion, the company said.
Cambridge-based Genzyme has extensive operations in Framingham and elsewhere in MetroWest.
Its Allston manufacturing facility was closed last year after inspectors discovered a virus there. The facility is now fully operational, the company said.
Still, Genzyme's second quarter results include $21.9 million in pre-tax write-offs for material at the facility that had to be thrown away.
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