Activist investor Carl Icahn has increased his stake in Cambridge, MA-based biotech firm Genzyme (NASDAQ:[[ticker:GENZ]]) from 1.5 million shares in the fourth quarter of 2009 to 4.6 million shares as of last week, Bloomberg reported last Friday. Icahn did not comment on his enlarged stake in Genzyme, according to Bloomberg, but his previous buying sprees of biotech stocks have led to proxy fights with firms such as Cambridge, MA-based biotech Biogen Idec (NASDAQ:[[ticker:BIIB]]), San Diego-based Amilyn Pharmaceuticals (NASDAQ:[[ticker:AMLN]]), and drug developer Imclone Systems, which was acquired by drug giant Eli Lilly in 2008.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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