Case | HBS Case Collection | July 1993

Genzyme Corporation: A Financing History

by Timothy A. Luehrman and Andrew D. Regan


Genzyme Corp.'s financing history is unusual compared to most biotech companies. This case presents the sequence of financings employed by Genzyme, along with the product--market and corporate-development strategies adopted by Henri Termeer, Genzyme's CEO. As such, the case permits students to evaluate the sequence of financings as a "program" rather than a series of unrelated deals and to consider them in light of the business strategy.

Keywords: History; Marketing Strategy; Financing and Loans; Business Strategy; Growth and Development Strategy; Biotechnology Industry;


Luehrman, Timothy A., and Andrew D. Regan. "Genzyme Corporation: A Financing History." Harvard Business School Case 294-005, July 1993.