Genzyme beats Street

GENZ reported 3Q07 non-GAAP diluted EPS of $0.90, beating by $0.03 the Street's $0.87 estimate and up 23% from $0.73 in 3Q06. Third quarter revenues rose 19% to $960.2 million from $808.6 million in the same period last year. The Street was expecting revenues of $954.7 million.

Sales of Cerezyme imiglucerase for Type I Gaucher's disease were up 13% to $286.1 million from $252.2 million. Sales of Renagel sevelamer for end-stage renal disease (ESRD) were $154.2 million, up 14% from $134.7 million, and sales of Fabrazyme agalsidase beta for Fabry's disease were up 12% to $104.6 million from $93.2 million. ...