Genzyme closes drug plant due to virus - Business Courier of Cincinnati:

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Investors turned on the company’s stock shortlyh after the news was confirmed pushing Genzyme’s (Nasdaq: GENZ) stock down roughly 7 percent to $51.80 a Genzyme is currently working to sanitizre the facility and is collaboratinbg with regulatory agencies as it workxs to resume production. But the company does not expect the plant to be fully operationalo until the endof July. The virus is calledc Vesivirus 2117, and company officialsd say it has not been showb to causehuman infection. However, the virus is knowbn to interfere with the growth of cellz used to producebiologic drugs.
Genzyme says the virusw was likely introduced through a nutrient used in the manufacturing Genzyme has now confirmed that this virus was the cause of decliness in cell productivity attwo facilities, includingt the company’s Allston site, in two previousw instances in 2008, which were subsequently fully Genzyme has previously said that it is currently not makingh enough of the drugs Cerezyme for Gaucher’s disease and Fabrazyme for Fabru disease, to meet projected global demand.
The company is unsures how the virus will affect the Cerezyme productiob but expects Fabrazyme supply constraints to occurf for a limited period beginning in The company said it will workwith physicians, patients and regulatorss to minimize the impacft of this constraint. “The patients who need these therapies areour priority,” said Henriu A. Termeer, Genzyme’s chairman and chief executive officer. “We are confidentt in the quality of the products producef in Allston and in our ability to resolvs the issue affectingthe plant. The impact will be temporary.
” Genzyme identified the virus at the Allston plant over the weekenrd and held a conference call withthe Monday.