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Genxyme General

This article was originally published in The Gray Sheet

Executive Summary

Spin-off of surgical products business Genzyme Surgical Products through a distribution of common shares as a dividend to Genzyme General shareholders is planned by the end of June. The move will allow Genzyme General to focus more closely on therapeutics, as well as stimulate investment for the development of surgical products. Genzyme Surgical Products has a revenue base of over $100 mil. The unit plans to "build on its strong position in the cardiovascular market by completing development of gene and cell therapy products for the treatment of coronary artery disease, congestive heart failure and peripheral vascular disease," the company says
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