Genzyme (GENZ) Not in Talks With Icahn - DJN

According to a Dow Jones release, Genzyme Corp. (NYSE: GENZ) Chief Executive Henri Termeer hasn't had discussions with activist shareholder Carl Icahn or been in touch with Icahn at all, Termeer said at a JPMorgan Healthcare Conference.

Genzyme recently reached an agreement with activist investor Relational Investors to potentially add its head, Ralph Whitworth, to the company board later this year.

Speculation has been raised that GENZ was looking for a fight with Icahn. Icahn hasn't commented on what he wants to do with his 1.5 million share stake.

Genzyme's stock is trading near its lowest levels since 2004 as it has suffered from multiple manufacturing and regulatory setbacks.

Shares are trading down 1.44% at $52.92 in the mid-afternoon session.

Manufacturing issues at its Allston, Massachusetts, facility, the sole source of its two top-selling drugs. The shipment delays have contributed to Genzyme lopping its 2009 earnings expectations in half and forced the company to invest in defending the drugs' market dominance.

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