Wednesday, February 1, 2012

Sanofi hits Genzyme with layoffs

By Julie M. Donnelly, Boston Business Journal

Genzyme Corp.’s research and development operations in Massachusetts have been cut by an unspecified number of positions, according to parent company Sanofi (NYSE: SNY). The positions have been eliminated to avoid redundancy between Sanofi and Genzyme staff, and do not reflect cuts to any specific drug development programs, the firm said.

A statement from the company reads, in part:

    The employees who are leaving Genzyme have made important contributions to the company, and we appreciate their dedication and service to patients. Affected employees will be offered severance packages and outplacement assistance services to help them transition to new employment.

The overall employment picture for Sanofi in Massachusetts, including Genzyme, will remain steady at 5,000 positions, Sanofi spokesman Jack Cox said. This reflects cuts to Genzyme staff, incoming Sanofi workers who are relocating from New Jersey, and new positions that are being created in the multiple sclerosis part of the Genzyme business, and in manufacturing.

Genzyme recently gained both FDA and European regulatory approval to produce the rare disease drug Fabrazyme at its new plant in Framingham.

Sanofi acquired Genzyme last April for $20.1 billion.