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Business

Genzyme Will Shed Three Noncore Units

by Lisa M. Jarvis
May 17, 2010 | A version of this story appeared in Volume 88, Issue 20

Genzyme is launching a $2 billion stock buyback program and planning to shed three businesses in an effort to improve shareholder value. The businesses include genetic testing, which provides reproductive and cancer tests and had sales of $371 million last year; diagnostic products, which sells enzymes and clinical chemistry reagents and had sales of $167 million; and pharmaceutical intermediates, which makes custom products at a facility in 
Liestal, Switzerland.

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