Genzyme Corp. stock rose $1.88 to $48.25 on Monday after thecompany reported record financial results for the third quarterended Sept. 30.
The Cambridge, Mass., company had net income of $5.2 million,or 22 cents a share, on revenues of $33.1 million. Genzyme(NASDAQ:GENZ) posted a net loss of $950,000, or 6 cents ashare, on revenues of $13.9 million for the comparable 1990quarter.
Product sales for the 1991 quarter were $22.8 million,compared with $9.8 million for the 1990 quarter. Of the $13million increase, $10 million to $11 million came fromshipments of Ceredase, an enzyme for treatment of Gaucher'sdisease that received Food and Drug Administration marketingapproval in April. Sales of Ceredase are running at a $60million annualized rate.
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