7/31/2009 - Genzyme Corp.'s (NASDAQ:GENZ) shares fell 7% in midday trading on Friday after the company said it was informed by the FDA that the agency wanted to conduct another inspection of the company's Allston, Mass. manufacturing facility to verify it is in compliance. A tour that the FDA took in May found that the plant was not in full compliance with certain process controls and equipment maintenance. The facility is used to make two of the company's best selling medications, Cerezyme and Fabrazyme, and potentially a third, a version of its product Myozyme, if they get FDA approval. The second inspection from the FDA came after Genzyme closed the plant temporarily because of viral contamination in one of its bioreactors in order to give the facility a thorough sanitization, production has since been resumed. Due to the production halt, the company lowered its 2009 forecast. Genzyme now expects to see revenues of $4.6 billion to $5 billion, down from $5.15 billion to $5.35 billion, vs. the consensus estimates of $4.79 billion. Full-year 2009 EPS is now estimated to be $2.35 to $2.90, down from $3.52 per share, vs. the consensus estimates of $2.85 per share.

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