Plant Closure Caused Genzyme Revenue Dip
Genzyme Corp. of Cambridge said in a preliminary fourth quarter revenue report that its sales dipped to $1.08 billion from $1.17 billion a year ago.
For the year, revenue decreased to $4.5 billion from $4.6 billion in 2008.
The decreases were the result of the closing of the company's Allston drug manufacturing facility in early 2009 following the detection of a virus there by federal inspectors. The facility produces two of the company's market-leading drugs, Cerezyme and Fabrazyme. It began shipping the drugs from the facility again in early December.
If production at the facility had not been halted, fourth quarter revenue would have shown a 24 percent increase over 2008, and full-year revenue would have increased by 15 percent, the company said.
The company, which has a significant presence in Framingham and elsewhere in MetroWest, will publish its full 2009 financial results on Feb. 17.
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