Genzyme and Sunway to Collaborate on Gene Therapy Program in China and Celgene Reports Record Third Quarter Product Sales and Operating Profits
City of Industry, CA --(www.USEquityNews.com)-- 10/29/2007 - Biotechnology industry alert provided by U.S. Equity News. Genzyme Corp. (Nasdaq: GENZ) and Sunway Biotech Co. Ltd. recently announced that they will collaborate to manufacture, develop, and commercialize the experimental gene therapy Ad2/HIF-1a in China. The product is Genzyme's most advanced gene therapy candidate and is currently in Phase 2 clinical testing in the United States and Europe.
ImClone Systems Inc. (Nasdaq:IMCL) reported third-quarter results that missed Wall Street expectations Thursday, and Chief Executive John Johnson said though the biotech company has resolved its most serious issues, challenges lie ahead as it aggressively pursues expanded use of cancer drug Erbitux. ImClone recently reported it swung to a third-quarter loss on higher operating costs, including a $50 million charge for a patent lawsuit settlement.
Celgene Corporation (NASDAQ: CELG) announced adjusted net income of $124.1 million, or adjusted earnings per diluted share of $0.29 for the quarter ended September 30, 2007. Based on U.S. Generally Accepted Accounting Principles (GAAP), Celgene reported net income of $38.8 million, or diluted earnings per share of $0.09 for the quarter ended September 30, 2007.
Emergency Disaster Systems, Inc., a subsidiary of U.S. BioDefense, Inc. (OTCBB: UBDE), recently attended "The 2nd Annual National Emergency Preparedness Conference." The conference was held at the Capital Christian Conference Center and Disaster Exercise Location, Sacramento, CA. Attendees included people with volunteerism and emergency readiness: volunteers, emergency responders, program coordinators, community organizers, emergency management administrators, and government agencies.
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