Genzyme lines up $600M for personalized meds

[industry_news]

Genzyme CEO Henri Termeer (photo) said yesterday that his company--the world's largest developer of rare disease treatments--will spend about $600 million in 2009 to acquire new products for chronic diseases. Specifically, he said Genzyme would seek out "personalized drugs, highly specialized medicines where you can easily explain their value," according the Boston Globe. Genzyme will focus on acquiring drugs already in clinical trials, and look to buy individual programs rather than whole companies. Termeer says this approach allows potential partners to maintain the heart of the company which was responsible for creating the drug.
Perhaps there's a lesson there for Roche in its attempt to buy out Genentech. Commenting on the deal, Termeer warned that Roche risks "losing very, very good individuals" from the ranks of one of the most successful biotech companies ever. He also reiterated that Genzyme, with it's focus on specialty drugs for rare disorders, won't be the target of a Big Pharma buyout.
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