This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Genzyme's Termeer: Worst Biotech CEO of '09

CAMBRIDGE, Mass. ( TheStreet) -- The winner of the 2009 Worst Biotech CEO of the Year Award goes to Genzyme's (GENZ) Henri Termeer.

The race for the Nance Trophy (more on the award's name below) wasn't even close. I was going to hold off announcing the loser... er, I mean winner... until next month, but there was no need to wait given Termeer's epic mismanagement of Genzyme this year.

Termeer has driven Genzyme so far into the ground that a turnaround at the company will only come if Termeer resigns his CEO post. And with billionaire investor and corporate agitator Carl Icahn disclosing a position in Genzyme Monday night, perhaps Termeer's days at the helm are numbered.

Genzyme was once one of the largest and most successful biotech companies in the sector. The company pioneered the development of drugs to treat rare genetic disease. The pricing of those drugs, measured in the hundreds of thousands of dollars per year, made Genzyme a beloved stock in the eyes of health care investors.

But in the past year (in reality, the past two years) a never-ending series of regulatory and manufacturing snafus has forced the company to delay drug approvals and launches, temporarily shutter a major manufacturing plant due to a viral contamination, write off millions of dollars in product inventory and poison its relationship with the U.S. Food and Drug Administration to the point that regulators have taken an active role in helping Genzyme's competitors.

Genzyme has cut its earnings forecast four times this year. Adjusted earnings are now expected to fall 43%, from $4.01 a share in 2008 to $2.27 a share this year, based on the current analyst consensus.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DSCO $2.76 -0.36%
BIIB $281.08 0.00%
HEB $0.14 0.00%
OSIR $5.87 0.00%
PLX $0.84 0.24%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs