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Genetic origins Like most biotech firms, Genzyme started small when it was founded in 1981 by Sheridan Snyder and Tufts professor Henry Blair. By 1989 the company was ready to go public, and expanded that year by acquiring Integrated Genetics. A notable success came for Genzyme in 1992, when the company, in collaboration with the University of Iowa, successfully experimented with human genes in an effort to develop treatments for cystic fibrosis. In 1993, the company spun off its Genzyme Transgenics unit, and the following year, it acquired Biosurface Technology, which was integrated into the corporation as Genzyme Tissue Repair. The Genzyme Corp. added another unit in 1997 when it bought PharmaGenics to create Genzyme Molecular Oncology. In 1998, Genzyme began to sharpen its focus by selling its research products division to Minnesota's Techne Corp., and also by closing the bulk of its chemicals business. As 1998 drew to a close, Genzyme won key approvals from the FDA for Thryogen, an injectable cancer-secreening drug, and Renagel, a phosphate binder for patients with renal disease. Genzyme superstars The Genzyme Corporation thus breaks down into three units: Genzyme General, Genzyme Tissue Repair, and Genzyme Molecular Oncology. Leading the pack is Genzyme General, which can be broken down into several divisions: Therapeutics, Diagnostic Products, Genetics, and Pharmaceuticals. The Therapeutics division of Genzyme General claims Genzyme's best-selling drugs: Ceredase and Cerezyme, treatments for Gaucher's Disease. A lysomal storage disorder, Gaucher's (pronounced "go-shay") Disease occurs from the lack of a crucial enzyme, glucocerebrosidase, which breaks down worn out cells. Ceredase and Cerezyme are, respectively, the natural and recombinant forms of glucocerebrosidase, and have been shown to reverse the progression of the disease. Cerezyme is now used by 86 percent of all Gaucher's patients. While scientists are excited by the drug's potential to treat the sometimes brutal effects of Gaucher's Disease, Wall Street analysts admire the two products' solid performance in the marketplace. In third quarter 1998, the two drugs brought the company $105.5 million. Most agree, however, that Ceredase and Cerezyme have reached their full maturity. Fresh out of the pipeline: Renagel and Thyrogen Riding to Genzyme's rescue are two products that won FDA approval towards the end of 1998: Renagel and Thyrogen. Renagel, also a product of Genzyme General's Therapeutics division, is a "phosphate binder" for patients with end-stage renal disease (ESRD). ESRD patients retain excess phosphorous, which can lead to serious conditions like renal bone disease. Renagel prevents such conditions by binding to dietary phosphate in the intestine, thus reducing phosphate levels by excretion. With an estimated 220,000 ESRD sufferers in the U.S. and 170,000 in Europe, industry observers feel that sales of Renagel could reach $200 million annually, and Genzyme has set aside a 42-person sales staff to market the drug in 38 regions of the world. On a lesser scale, the company anticipates that its other recently approved product, Thyrogen, will bring in between $50 and $75 million yearly. The drug is designed to boost levels of thyroid stimulating hormones for thyroid cancer patients undergoing follow-up screening. Genzyme likes to bind Like some of its competitors, Genzyme has been willing to partner up with other companies to develop and market products. While such moves tend to put a dent in profits, they allow more prolific development, and thus keep the company from nail-biting gaps in the pipeline. For its injectable thyroid drug, Thyrogen, Genzyme partnered with New Jersey-based Knoll Pharmaceutical, which markets the product. Genzyme also teamed up with Massachussetts-based GelTex to develop Renagel. One vice-president told BIOWORLD Today that the collaboration was "a real working partnership, where the expertise from both sides was leveraged." Another notable partnership exists between Genzyme and Holland's Pharming Group NV. The two companies are working to develop a treatment for Pompe's disease, a respiratory disorder that affects 5,000 people in Europe and America. Finally, Genzyme struck a joint-venture agreement with BioMarin Pharmaceuticals to develop treatment for Hurler's Syndrome, a disorder causing skeletal deformity and brain damage. Hello, Myra More innovative drug therapy is on the way from Genzyme. In May 1999, Genzyme Transgenics cloned goats for the first time in history, producing a kid called Myra. The goat clones carry a human gene for making antithrombin III, which combats blood clotting. This method of developing drugs is called transgenic production, in which human DNA is inserted into animal cells, and a transgenic protein is then secreted in the milk of female offspring. Transgenic proteins have the potential to produce large quantities of drugs at lower costs. Genzyme is aiming to produce the first transgenically-produced malaria vaccine, as well as HIV therapy and a diabetes vaccine. Genzyme has also been exploring a treatment for Parkinson's Disease, which caused some controversy in February 1999. The method involves injecting pig cells into the brains of people suffering from Parkinson's. U.S. experiments have resulted in clinical improvements 12 months after the injection of pig cells, but there are fears of transmitting pig viruses to humans. Piggish profits With or without the help of pigs, Genzyme's profits are doing just fine. Genzyme's net income hit $32.5 million during the first quarter of 1999, a 30 percent increase from the first quarter of 1998. Genzyme attributes this success to strong sales of Cerezyme, Ceredase, Renagel, and Thyrogen. More money could follow; in February 1999, Genzyme Molecular Oncology licensed patent rights on its antisense cancer compounds to Isis Pharmaceuticals. If Isis successfully develops therapeutic cancer drugs from the patented information, Genzyme could receive several million dollars, in addition to royalties on future product sales. All of this spells positive profits for a biotech company that continues to push the limits of medical knowledge. Complacency has not accompanied Genzyme's success, however. In summer 1999, the company acquired another Massachusetts-based biotech firm, Peptimmune Inc. Also in summer 1999, the company boosted profits by spinning off its surgical products unit. Finally, in mid-2000, the company planned to form Genzyme Biosurgery, an entity that would consist of two existing Genzyme units and Biomatrix. The deal, however, awaits SEC and investor approval.
As at other biotech firms, the interview process at Genzyme can be rigorous. "The interview process is usually quite involved depending on the level of position," one insider tells us. "I tend to be pretty casual, but I know other people in my department get into a lot of technical stuff," says another, who clarifies his style with this observation: "usually you can tell by someone's resume if they would be qualified for the job, so I don't tend to spend a lot of time there and am more interested if this person's work style, attitude, etc. would mesh well with the department." Insiders also advise that despite informal interviewers, it's a good idea to dress formally for any interview. Genzyme interviews are generally accomplished during one round, with four to five one-on-one sessions lasting half an hour each. Candidates can expect to meet with Human Resources representatives, and insiders recommend that "this is the opportunity to find about about the benefits (health, salary, vacation, 401(k) insurance, etc). The scientists usually don't know the ins and outs of benefits." An interview is usually set up with the person (often a department manager) who requested staffing. Our contacts suggest asking these people as many questions as possible about job responsibilities, noting that the individual conducting this interview "can be a resource for determining the management style of your future supervisor." Finally, note that those coming to the company with a PhD or Master's with industry experience can expect to present a seminar regarding any research done. Candidates coming straight to Genzyme with undergraduate or Master's degrees will not be asked to present a seminar, but should anticipate "intense" interviews.
Cutting edge, but growing pains Employees turn in mixed reviews on Genzyme. One employee at Genzyme headquarters reports that "I've been at Genzyme for almost four years now, and I still love working here! There are many chances for advancement and many career paths to follow." Another employee at Genzyme's Transgenics division gave her experience high ratings: "I would have to say that this is the most progressive company you could hope to work for; the work is cutting edge and it's fun." In contrast to these positive reviews, one contact warns: "The increase in size...has meant a lot of problems for management, that are often not handled until it is too late, and it also seems the right hand doesn't know what the left hand is doing. People are now trying to tackle these problems, but as you can imagine, it isn't easy." Anemic pay, but healthy perks One frequently voiced gripe at Genzyme is the pay scale. "Pay is average," says another insider. "Pharmaceutical companies pay more." "The pay-scale is competitive with other biotech companies - perhaps slightly less, but we receive company stocks," says another employee. A former Genzymer says: "I couldn't speak for the other divisions of Genzyme, but for myself, I basically bit the bullet with GG for six months and collected my meager paychecks while I looked for a job I could build a career on." Genzyme employees are generally pleased about company perks. These include "employee stock options and employee stock purchase programs," as well as "three weeks vacation your first year, 401(k) matched by the company." Clinging to start-up spirit "I would say the corporate culture is still fairly young and innovative," says one business analyst. "Stemming from its days as a small startup, management has always stressed the 'entrepreneurial spirit' that has been so much a part of the company's everyday culture," says a researcher. "Management still promotes individual initiative in all areas of the company." The emphasis on individual initiative is still a product of the company's relatively small size, says one employee. "Working at Genzyme, people tend to get a lot of experience since there aren't as many people working on projects in comparison to the big pharm companies." This aspect of Genzyme's culture can be a bit intimidating, employees report. "The atmosphere is intense but not overwhelming," says one longtime employee. A recent hire offers a similar description: "Things move at a rapid pace here." One employee in the company's regulatory affairs department reports working 10 to 12 hours a day. Most employees, however, report working a 40-hour workweek, with flexible hours. Take off your lab coat and stay a while Genzyme's youthful corporate culture plays itself out in company social life. "The average age is 30, so people are very young," says one employee. Another insider notes that although the company has grown, it is "not so big that they left all of their small company niceties by the roadside. There is a company happy hour on Fridays and company meetings to discuss the future and get to know other areas within the company." One employee in his twenties raves about this weekly happy hour, saying it involves "complimentary food, beer, and wine." That employee says that for the "plenty of twenty- and thirty-somethings here at Genzyme," there are "several sports and activities available...as well." Dress code at the company is casual for researchers, formal for marketing, sales, and administrative staff, with casual Fridays for everyone. Diversity in development As for the treatment of women and minorities, a female employee with the Transgenics division says that "as a feminist, I am proud to say that this company has a strong and informative sexual harassment policy, but in this atmosphere it's not even needed." "Genzyme has a good number of high-ranking women," one employee reports. "I know of at least two division presidents who are women." Employees also report that the company requires employees to take training sessions that deal with sexual harassment and diversity issues. However, one researcher says that while "the company seems to be good in its treatment towards minorities and women...there still is a pay inequality here." Another insider reports that while "there are women in top positions throughout the company, there aren't many people of color in the top ranks."
Human Resources More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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