Goldman Sachs Says FDA News on Genzyme (GENZ) is a "Significant Negative Surprise"

Goldman Sachs issued comments on Genzyme Corp. (Nasdaq: GENZ) following an FDA warning letter on foreign particle contamination of certain lots of Cerezyme, Fabrazyme, Myozyme, Aldurazyme and Thyrogen.

The firm is calling the news "is a significant negative surprise, and raises the risk to ongoing manufacturing and regulatory issues at the Allston plant."

The firm said this raises: quality control questions at Allston, Lumizyme approval may be delayed, Shift to competitive products may accelerate.

Goldman maintained their Conviciton Sell List rating on Genzyme.

Shares of GENZ are down 8.7 percent on the news.

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