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April 24 2008

April 24 2008. Genzyme and Lecture. Today. Progress to date Genzyme Growth Lecture. Primary Objective: To show how successful companies have to continually refine their strategies to account for marketplace changes. Describe the key factors in Genzyme’s success to date.

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April 24 2008

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  1. April 24 2008 Genzyme and Lecture

  2. Today • Progress to date • Genzyme • Growth Lecture

  3. Primary Objective:To show how successful companies have to continually refine their strategies to account for marketplace changes. • Describe the key factors in Genzyme’s success to date. • Does the Drug Development process have to be so long? Why or why not? How do you think the process can be improved? • What is a better business model - a cure or a treatment. Why? • The products in the pipeline are addressing rarer and rarer diseases. At the same time, genomics is showing that targeted therapies that address smaller populations might be a more effective approach to more common diseases. Are these important changes in the environment? If so, how would you address this if you were Genzyme?

  4. Genzyme • Some questions • Diverse Business Lines plus and minus • Target first- then do research– what a concept! • Outsource research R&D disproportion • Experienced CEO • Stay independent • Vertically integrated • Creative Financing • Core Competencies • Lots of M&A (mergers and acquisitions) • Role of government • Ultra orphan drugs and competition– the new environment • What is the drug delivery process?

  5. Story in Wall Street Journal Stem Cells Show Promise Treating Diabetes By JENNIFER CORBETT DOORENApril 11, 2007 6:11 p.m. WASHINGTON -- Treating patients with stem cells made from their own blood showed promise as a treatment for 15 patients in Brazil newly diagnosed with Type 1 diabetes. Preliminary results of the treatment, which were detailed in the April 11 Journal of the American Medical Association, showed 13 of the patients have so far been able to able to stop using insulin to treat their disease. The first patient has been followed for three years with the last patient treated and then followed for seven months. Type 1 diabetes, or juvenile diabetes, is an autoimmune disorder that's usually diagnosed in children or young adults and it destroys insulin-producing cells in the pancreas known as beta cells. Insulin is needed to help the body regulate blood sugar, which if not controlled can cause organ damage and death. Researchers involved in the study says it's the first time the stem-cell treatment has been shown to work in a small group of newly diagnosed diabetes patients. One of the study authors, Richard K. Burt, who is the chief of the immunotherapy division at Northwestern University in Chicago, said it's way too early to call the treatment a cure and said additional and larger studies would be needed. The stem-cell treatment regimen is risky. In an interview, Dr. Burt explained that blood was first withdrawn from patients who ranged in age from 14 to 31, and then frozen. Patients were then given four days of chemotherapy in order to destroy their immune systems and were also given strong antibiotics to fight infection. The stem cells in the patients' blood were then put back into the body. Patients were hospitalized for about three weeks. Dr. Burt said the idea was to "reset" the immune system by shutting down the immune system and then injecting the stem cells in order to help the body rebuild the system and stop the destruction of insulin-producing cells in the pancreas. Dr. Burt, who designed the study, said the treatment didn't work in the first patient who had also been treated with high doses of steroids. In 13 of 14 patients subsequently treated, there were able to stop using insulin and have maintained normal blood sugar levels. He said the procedure was conducted in patients who had been diagnosed with diabetes in the prior six weeks before too many beta cells had been destroyed. Patients enrolled in the study between November 2003 and July 2006 and they were followed until February of this year. The study was conducted by researchers at the University of Sao Paulo, Ribeirao Preto, Brazil. Dr. Burt said the study was conducted there because he couldn't find anyone in the U.S. willing to conduct such a study, but he hopes the encouraging results will make it possible to study the treatment in the U.S. There's currently no cure for Type 1 diabetes, which affects about two million Americans. Type 1 diabetes differs from the more common, type 2 form of diabetes, a condition that's often linked to weight-gain and more often diagnosed in people age 45 and older. Patients with type 1 diabetes are required to take daily doses of insulin. The study was funded by the Brazilian Health Ministry, Genzyme Corp. and a unit of Johnson & Johnson.

  6. More news • April 29, 2006, The Wall Street Journal, Genzyme Corp. won approval from the Food and Drug Administration to sell the first treatment for Pompe disease, a rare and devastating enzyme-deficiency • Today UPDATE 3-Genzyme first-quarter profit tops expectations

  7. From web site • Genzyme Named to FORTUNE’s “100 Best Companies to Work For” ListGenzyme Corp. announced that it has been selected by FORTUNE magazine as one of the “100 Best Companies to Work For” for the second consecutive year. Genzyme ranked 43 among the nation’s top employers

  8. Date: April 16, 2007 from website • Genzyme Announces Successful Completion of Study Investigating Sevelamer Carbonate in Patients with Chronic Kidney Disease • Related LinksRenagel Product Website Genzyme Corp. (Nasdaq: GENZ) announced today that a recently completed study of Renvela™ (sevelamer carbonate) achieved its primary endpoint, demonstrating a statistically significant reduction in serum phosphorus for hyperphosphatemic patients with chronic kidney disease who are not on dialysis. • Patients treated with Renvela also achieved a significant reduction in calcium-phosphorus product and in LDL cholesterol. The drug was well tolerated with a safety profile consistent with the clinical experience of patients on dialysis using Renagel® (sevelamer hydrochloride). The multi-center, single arm, open-label trial involved 49 patients at multiple study sites throughout Europe and Australia.

  9. Growth • Why do companies need to grow? • How to fumble the ball- example of AT&T • Step 1. 1984 Divestiture • Step 2 Act on “Convergence of Computers and Communications” • Start own computer business- big loser • Acquire NCR- bigger loser • 1996 Divest NCR (received 3.4B after investing 9.4 B) • Step 3 1994 Build on growing cellular business • Acquire McCaw Cellular for 11.6 B • Invest additional 3.4B • Can’t really combine wireline and wireless so sold for 10.6B • Step 4 1998 Build Broadband by acquiring cable • Bought TCI and MediaOne for 112M • Could not integrate • 2000 Sold for 72B • 2006 “Merged” with SWB Result: in 10 years, AT&T wasted $50B!!

  10. SBC To Acquire AT&T, Creates Premier, Global ProviderThe $16 billion transaction creates a company with robust, high-quality network assets, both in the United States and around the globe, and complementary expertise and capabilities. It will have the resources and skill sets to innovate and more quickly deliver to customers the next generation of advanced, integrated IP-based wireline and wireless communications services. • SBC Names Senior Management Team for New AT&TCommunications Inc. today announced the senior management team that will lead the company when its acquisition of AT&T is completed, which is expected later this month. At that time, SBC will adopt AT&T, Inc. as the new company name. • SBC Communications to Adopt AT&T NameSBC will adopt the AT&T name following completion of its acquisition of AT&T, which is expected in late 2005.

  11. In Search of ExcellencePeters and Waterman 1983 Results from highly regarded companies • Bias for Action • Close to the Customer • Autonomy and Entrepreneurship • Productivity through people • Hands-on value-driven • Stick to the knitting • Simple form, lean staff • Simultaneous loose-tight properties

  12. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC • IBM • 3M • Amdahl • Gould • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  13. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat RIP • IBM • 3M • Amdahl • Gould • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  14. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat RIP • IBM Near Death early 90s • 3M • Amdahl • Gould • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  15. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat RIP • IBM Near Death early 90s • 3M Still thriving • Amdahl • Gould • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  16. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  17. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  18. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  19. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  20. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  21. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus, now recovering • K Mart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  22. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General • Wang Labs • Polaroid • Revlon • United Technologies

  23. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General RIP • Wang Labs • Polaroid • Revlon • United Technologies

  24. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General RIP • Wang Labs RIP (nice concert hall in Boston) • Polaroid • Revlon • United Technologies

  25. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General RIP • Wang Labs RIP (nice concert hall in Boston) • Polaroid RIP • Revlon • United Technologies

  26. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General RIP • Wang Labs RIP (nice concert hall in Boston) • Polaroid RIP • Revlon Long decline • United Technologies

  27. In Search of Excellence Peters and Waterman 1983 • Some Companies cited as “excellent (1961-1981) • DEC Missed PC boat • IBM Near Death early 90s • 3M Still thriving • Amdahl IBM mainframe clone dead • Gould RIP • Westinghouse RIP • Rockwell Slimmed Down • Eastman Kodak Slimmed Down • Boeing Lost to Airbus • K Mart Think Walmart • Data General RIP • Wang Labs RIP (nice concert hall in Boston) • Polaroid RIP • Revlon Long decline • United Technologies Doing OK

  28. Revlon vs. Estee Lauder

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