The Survivor: Termeer focused on resolving Genzyme woes

Now that Carl Icahn's incipient proxy fight has been settled, Genzyme CEO Henri Termeer says that he has no intention of selling the company. And he insists that the company is right where it was ahead of the Icahn showdown, focused on resolving its manufacturing woes and reviving flagging sales. With the scrap with Icahn over "we can get away from that conflict and start to run the company again, moving forward with the very, very exciting developments we have ahead of us," Termeer tells...

Icahn makes fresh inroads at Biogen and Genzyme

Anyone looking for a close-up look at what Genzyme's Henri Termeer was looking to avoid when he struck a deal to amicably seat two of Carl Icahn's representatives on the board need only look at yesterday's brief annual meeting at Biogen Idec. The Biogen board cheerfully welcomed a third ally of Icahn's during the meeting, which was conducted without James Mullen, who retired from his CEO's post on Tuesday. A year ago the Biogen meeting ended in turmoil, breaking up with no clear idea of...

Proxy truce puts two Icahn reps on Genzyme board

Carl Icahn will get two representatives on Genzyme's board as part of a new proxy peace pact he just signed with the big biotech's management. In exchange for withdrawing his lineup of four nominees, Icahn will throw his weight behind the company slate and Genzyme will appoint Steven Burakoff, M.D., and Eric Ende, M.D., to serve as directors immediately following its June 16 annual meeting of shareholders. Burakoff was one of Icahn's original four nominees. Ende, a participant in...

Genzyme to jettison three units as it bunkers down

Under assault by Carl Icahn and facing stiff regulatory oversight following some embarrassing manufacturing blunders, Genzyme is getting back to basics. In a series of strategic moves the biotech company says it will buy back $2 billion dollars worth of its stock as it considers how to rid itself of three businesses that are not part of its core operation. Genzyme's genetic testing, diagnostics and pharmaceutical intermediates businesses are all being put in the spotlight as Genzyme considers...

Genzyme open to selling noncore businesses

Genzyme (NASDAQ: GENZ) is open to selling off some of its noncore businesses, CEO Henri Termeer (photo) said Tuesday at the Health Blog HQ, according to the Wall Street Journal Health Blog. The company will brief analysts and investors about its more peripheral businesses at a May 6 meeting in Boston, when it also will reveal details about its individual operations....