Genzyme begun in 81, Sanofi purchased the company this year. They went public in 1986, raising twenty seven million us dollars.
Genzyme startet as a start up Company by simply scientists studying genetically inherited enzyme diseases. Their strategy didn’t focus on the “blockbuster drugs” just like other biotechnology companies nevertheless drugs intended for rare disorders. To developing a drug, it will take 10-14 years at the cost of around 800 million. But the blockbuster prescription drugs had one particular billion us dollars revenue.
Genzyme has received a lot of honor awards like “national medal of technology”. The foodstuff and drug administration established in 1983 the “Orphane drug act” giving seven years industry exclusivity to developers of drugs for rare diseases. This kind of gave Genzyme big advantage in terms of clinical trials, advertising and sales, it does not takes a lot.
Their very own first success was the “Ceredase” drug- to treat the Gaucher`s disease. It absolutely was sold to over 4000 people, with total annual revenue of 800 mil dollars. They had different method of manufacturing and sales beat other companies. They did not perform licensing to large pharmaceutic company.
Genzyme was the realms third greatest biotech organization in 2006 just profiting of rare diseases. Reflection of the watch case