Genzyme Boosts Revenue

Genzyme(GENZ Quote) said Wednesday that a 30% gain in third-quarter sales helped produce earnings that topped Wall Street's estimates.

In addition, the company said it expects to reach the "high end" of its earnings guidance -- a range of $1.65 to $1.75 a share -- for the full year. The Wall Street consensus, as tracked by Thomson First Call, anticipates a full-year EPS of $1.72.

"These results lead us to reiterate our goal for earnings growth of approximately 20% for 2005, despite the near-term dilutive impact" of the acquisition of Ilex Oncology(ILXO Quote)," said Henri A. Termeer, chairman and CEO of the Cambridge, Mass.-based Genzyme. ...