Genzyme launches kidney disease drug

Genzyme launches kidney disease drug
March 06, 2008: 04:02 PM EST

Mar. 6, 2008 (Thomson Financial delivered by Newstex) --

CAMBRIDGE, Mass. (AP) - Biotechnology company Genzyme (NASDAQ:GENZ) Corp. said Thursday it launched its kidney disease treatment Renvela.

The drug was approved by the Food and Drug Administration in October. It is a new version of the kidney disease drug Renagel, which was approved in 1998.

Renvela is approved to control serum phosphorus in patients with chronic kidney disease on dialysis. Serum phosphorus is a chemical used by the body to get energy from food.

Genzyme is also seeking approval for Renvela in Europe and for patients in the U.S. who are not going through dialysis treatment. The company said it does not need to file a supplemental application for the additional approval in the U.S.

Shares of Genzyme fell $1.86, or 2.5 percent, to $73.05 in afternoon trading. The stock has traded between $58.71 and $82.08 over the past 52 weeks.

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