Genzyme reports revenue increase in Q1

CAMBRIDGE, Mass. Biotech company Genzyme reported a 4% increase in revenue for first-quarter 2009, according to financial results released Wednesday.

The Cambridge, Mass.-based maker of the leukemia treatment Campath (alemtuzumab) and the Pompe disease treatment Myozyme (alglucosidase alfa) had revenues of $1.15 billion, compared with $1.1 billion in first quarter 2008. Including a $66 billion reduction resulting from currency exchange rates, revenue increased by 10% for the quarter.

The company acquired Campath from Bayer HealthCare and said it expects that and reacceleration of Myozyme sales in Europe to serve as catalysts for growth this year, along with the U.S. approval of Myozyme, the ongoing launches of the multiple myeloma and non-Hodgkin’s lymphoma treatment Mozobil (plerixafor), kidney disease treatment Renvela (sevelamer carbonate) and osteoarthritis treatment Synvisc-One (hylan G-F 20).