Biotech Values

[Biowatch]

GENZ At Genzyme, a Long View
January 17, 2010
http://www.nytimes.com/2010/01/18/business/18views.html

Jeff Zelevansky/Reuters

Genzyme, a $14 billion biotechnology company, is getting a much-needed shake-up. Relational Investors, an investor in the company, is doing it by, at least for the moment, backing its management.

But Carl C. Icahn, the billionaire with a history of forcing pharmaceutical companies into auctions, is hovering in the background. A sale might book a quick gain. However, a smaller, more focused Genzyme might be the better outcome for investors...

Photo caption: Ralph Whitworth is a founder of Relational Investors, which owns a 4 percent stake of Genzyme, the biotech company.