Business Services Industry
Cambridge, Mass., Biomedical Firm Focuses on Managing Dialysis-Drug Inventory.
Knight Ridder/Tribune Business News, March, 2002
By Naomi Aoki, The Boston Globe Knight Ridder/Tribune Business News
Mar. 28--Genzyme Corp. yesterday said it is taking aggressive steps to manage inventory of its dialysis drug, Renagel, among US wholesalers, forcing the Cambridge company to cut sales projections by almost half for the first quarter and shave 10 cents off its earnings estimate.
The company assured it would meet sales and earnings projections for the year. Genzyme expects sales of Renagel to increase from $177 million last year to $260 million to $280 million this year.
By month's end, Genzyme said, it expects to reduce the supply of Renagel stocked in wholesalers' warehouses from 12 weeks worth to 6 weeks. Meanwhile, the company said, it plans to build up its own inventories...
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