Firm to double its workforce
By Jo Deeks on Thursday, 8th February 2001.
AMERICAN biotech giant Genzyme is creating 200 extra jobs at its plant in Haverhill, more than doubling the workforce.
A massive £55 million investment by the company is to fast-forward ambitious growth plans for its potential "blockbuster" drug Renagel.
The company expects to gain global recognition for pharmaceutical manufacturing excellence with the product, which is described as "an important advance" in the treatment of kidney dialysis patients.
Remagel is expected to become a billion dollar product within the next decade. Genzyme plans to increase by more than tenfold the manufacture at Haverhill of Sevelamer the raw material used to make Remagel. Production capacity will increase from 50 to 500 tons.
The funding, the second largest in the company's history, was announced by Henri Termeer, Genzyme Corporation chairman and chief executive, at a special visit to Haverhill.
Mr Termeer said sales of Renagel had exceeded all expectations and were expected to double in 2001, reaching between 110-120 million US dollars.
"Renagel has consistently exceeded expectations since its launch in 1999 and is destined to change the growth rate of Genzyme this year and beyond," Mr Termeer said.
Science Minister Lord Sainsbury said the new plant would help reninforce the UK's position as the leading European country for piopharmaceutical manufacturing.
"It is a success story for Haverhill and for Britain," Lord Sainsbury said.
A massive £55 million investment by the company is to fast-forward ambitious growth plans for its potential "blockbuster" drug Renagel.
The company expects to gain global recognition for pharmaceutical manufacturing excellence with the product, which is described as "an important advance" in the treatment of kidney dialysis patients.
Remagel is expected to become a billion dollar product within the next decade. Genzyme plans to increase by more than tenfold the manufacture at Haverhill of Sevelamer the raw material used to make Remagel. Production capacity will increase from 50 to 500 tons.
The funding, the second largest in the company's history, was announced by Henri Termeer, Genzyme Corporation chairman and chief executive, at a special visit to Haverhill.
Mr Termeer said sales of Renagel had exceeded all expectations and were expected to double in 2001, reaching between 110-120 million US dollars.
"Renagel has consistently exceeded expectations since its launch in 1999 and is destined to change the growth rate of Genzyme this year and beyond," Mr Termeer said.
Science Minister Lord Sainsbury said the new plant would help reninforce the UK's position as the leading European country for piopharmaceutical manufacturing.
"It is a success story for Haverhill and for Britain," Lord Sainsbury said.
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