Biotechnology US biotech major Genzyme (Nasdaq: GENZ), which is the target of a hostile $69/share or $18.5 billion takeover offer from France's Sanofi-Aventis (Euronext: SAN), pleased investors yesterday with its third-quarter 2010 results showing significant earnings growth driven by increased shipments of Gaucher disease drug Cerezyme (imiglucerase for injection), which, along with other products, has been hit by production problems (The Pharma Letters passim). Earnings growth in the third quarter was also driven by strong revenue from Lumizyme (alglucosidase alfa) and cost reduction measures, the company said. 21 October 2010