Genzyme Corp., which has more than 1,700 employees in the Worcester region, saw its profit disappear during the fourth quarter of 2006.
The biotech company reported a $268.2 million loss during the three month period, after reporting a $106.6 million profit during the same period of 2005.
The loss was driven by Genzyme’s $584 million acquisition of AnorMed Inc. in November. Excluding one-time charges, the company’s profit came in at 77 cents a share, compared with 60 cents a share in 2005.
Revenue for Genzyme remained strong, increasing 17 percent to a record $854.2 million.
The company’s shares were down slightly (less than one percent) in early morning trading.
