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Genzyme Says Synvisc Approved In Japan

From Associated Press (September 20, 2010)

CAMBRIDGE, Mass. -- Genzyme Corp. said Monday its drug Synvisc, which treats osteoarthritis of the knee, has been approved in Japan.

Genzyme said it received marketing approval from the Ministry of Health, Labour and Welfare. The Central Social Insurance Medical Council has agreed to cover the drug.

Osteoarthritis of the knee affects about 30 million people in Japan, according to Genzyme.

Teijin Pharma Ltd. has licensed Synvisc and has exclusive rights to sell the drug in Japan. Genzyme will receive milestone payments and will supply the drug to Teijin, which is based in Japan.

In morning trading, Genzyme stock rose 10 cents to $70.25.

Posted: September 2010