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Article: Genzyme Wins FDA Approval For Fabry's Disease Treatment.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Washington Editor
Genzyme General received FDA approval of the orphan drug Fabrazyme, an enzyme replacement therapy for a rare, genetic disorder called Fabry's disease.
Word came in mid-afternoon Thursday, leaving enough time for the company's stock (NASDAQ:GENZ) to gain $3, or 8.3 percent, to close at $39.38.
Orphan status gives Genzyme General, a division of Genzyme Corp., of Cambridge, Mass., seven-year market exclusivity in the patient population of about 5,000 worldwide.
Genzyme officials expect the cost in the U.S. to be similar to the amount Europeans are charged - on average, $180,000 per year per patient. The company expects ...