Seeking Blockbuster, Genzyme Binds Polymer Developer GelTex
Executive Summary
Three years ago, Genzyme and GelTex teamed up to commercialize Renagel, the only calcium-free phosphate binding agent used to treat dialysis patients. Now, informed with clinical data showing that calcium plays a role in cardiovascular disease among dialysis patients, the companies have agreed upon a billion-dollar merger. If Renagel's new-found blockbuster expectations are met, the deal will give Genzyme the big-market drug it needs to propel earnings growth.