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Reproductive Testing Volume Helps Drives Genzyme Genetics Up 12% in Q1

For the first quarter of 2008, the Genzyme Corporation’s Genetics business is up 12 percent to $74 million compared to the last year’s first quarter. Officials from the Cambridge, Mass.-based company attributed the growth to a higher volume of reproductive diagnostic testing, as well as improvement in operating efficiencies, as well as adding information technology infrastructure. Genetic testing contributes 7% to the company’s total revenues, which grew 25% to $1.1 billion compared to the same time period a year ago. This recent earnings release comes on the heels of Genzyme Genetics’ launch of a reproductive test for both carrier and prenatal diagnosis of spinal muscular atrophy (SMA) in mid-April.

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