said fourth-quarter revenue will be higher than expected thanks to strong sales of its treatment for the enzyme disorder Gaucher disease and its drug for kidney disease.
The biotechnology company expects to post $479 million in fourth-quarter revenue, up from $298 million a year ago, when the company was in the process of consolidating several related companies under the Genzyme name. Analysts surveyed by Thomson First Call were predicting revenue of $458.4 million in the quarter.
Genzyme said its Cerezyme injection for patients with type-one Gaucher disease rose 25% year over year to $198 million, while sales of its Renagel phosphate binder for chronic kidney disease totaled about $81 million in the quarter, up 59% from last year.
Sales of Genzyme's new Fabrazyme, an enzyme-replacement therapy for patients with Fabry disease, were about $32 million for the fourth quarter, compared with $8.9 million in the same quarter a year ago.
Revenue in Genzyme's biosurgery unit totaled approximately $54 million in the fourth quarter, led by Synvisc, its treatment from osteoarthritis-related knee pain, which did $26 million of sales in the period. Revenue from diagnostic products and services was $48 million for the fourth quarter, up from $45.4 million last year.
Genzyme's stock was recently up $1.34, or 2.8%, to $49.63 in the Instinet after-hours session.