UPDATE 1-Genzyme names ex-Lilly exec to head manufacturing

* Scott Canute is named head of manufacturing

* Hire is part of broad management shake-up

* Genzyme shares rise 2.8 pct

BOSTON, Feb 3 (BestGrowthStock) – Genzyme Corp (GENZ.O: ), continuing
a shake-up of top management, said on Wednesday it has hired
the former head of manufacturing at drugmaker Eli Lilly & Co
(LLY.N: ) to lead its global manufacturing and corporate
operations.

The hiring of Scott Canute is the latest in a series of
actions by Cambridge, Massachusetts-based Genzyme as it works
to emerge from a manufacturing crisis that lead to a shortage
of two major drugs and damaged management’s credibility with
patients and investors.

Last month the biotechnology company named Ron Branning,
formerly head of quality and compliance at Gilead Sciences Inc
(GILD.O: ), to take charge of global quality control.

At Lilly, Canute directed all manufacturing and supply
chain activities for operations spanning 24 manufacturing sites
around the world and more than 80 contract manufacturing
operations. He left Lilly in 2007 to pursue educational
interests in business leadership and ethics, Genzyme said.

At Genzyme, one of the world’s biggest biotechnology
companies, Canute will oversee production of products
manufactured at 17 sites around the globe.

Genzyme shares rose 2.8 percent to $57.23 in mid-morning
trading on Nasdaq.

Investment Analysis

(Reporting by Toni Clarke; editing by John Wallace)

UPDATE 1-Genzyme names ex-Lilly exec to head manufacturing