FDA Panel Gives Nod to Genzyme Osteoarthritis Treatment

Ryan McBride12/9/08

An FDA advisory panel has voted 5-0 in favor of recommending approval of Cambridge, MA-based Genzyme’s (NASDAQ:GENZ) osteoarthritis treatment hylan GF 20 (Synvisc-One) in single injections, the company announced Tuesday. Christopher Raymond, an analyst for Robert W. Baird, reiterated his “outperform” rating on Genzyme’s stock with the following note: “Although FDA does not necessarily have to follow the recommendation of the panel, we think Synvisc-One’s approval by its December 23 action date is now more likely considering the panel’s discussion indicating Synvisc-One is effective for the treatment of osteoarthritis.”