Henri Termeer, the CEO of Genzyme, told the Wall Street Journal's Health Blog last week that he was considering selling some of the company's non-essential business, and this week the company said which ones were for sale: its genetic testing, diagnostics, and pharmaceutical intermediates businesses. "As we evaluated our company to create a mix of businesses that will deliver sustainable growth and stronger returns on invested capital, it became clear that these businesses do not fit within this strategy," Termeer says in a statement, according to Dow Jones Newswires. The Health Blog adds that when it "chatted with Termeer last week, he was full of praise from one of the activist investors who's been pressing for change at the company — Ralph Whitworth" though Termeer "had fewer kind words for Carl Icahn."
Changes Come to Genzyme
May 07, 2010