Genzyme CEO Interview

Cramer spoke with Henry Termeer, chairman and CEO of Genzyme (GENZ). Termeer explained to Cramer that Genzyme focuses primarily on “orphan” drugs, or drugs for rare diseases (five out of every 10,000 people) that don’t have many available treatments. He said the market for orphan drugs is small but once a patient is on the treatments they often or on them for life and it creates a stable stream of income for GENZ. The company can make as much as $300,000 per pear per patient with some orphan drugs. He pointed out that insurance companies don’t complain about paying for these treatments because they work and are some of the only options available for the rare diseases. Cramer mentioned he likes GENZ for its drugs developments in bigger markets like cholesterol, MS and renal failure. The company also has three drugs up for FDA approval by the end of the year. “If you want to speculate like a pro, you speculate with fabulous companies that have been around that have really exciting drugs in the pipeline,” Cramer said. “Genzyme fits that bill.”

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