Genzyme lowers 1Q guidance

GENZ lowered its first quarter EPS guidance by $0.10 to $0.21-$0.23 and decreased its first quarter sales estimate for Renagel sevelamer phosphate binder to treat end-stage renal disease to $30 million. GENZ said the downward guidance reflects its build-up of in-house Renagel inventory, which will result in reduced U.S. wholesaler inventory levels of the product to 6 from 12 weeks. GENZ also said that "certain tableting production factors" are contributing to the first quarter EPS figure. ...