Reuters has an underperform on this stock. Cuts 2009 adjusted earnings per share view to $2.26 per share * Q3 cerezyme sales fell to $93.6 million from $309.6 million * Q3 fabrazyme sales fell to $115.2 million versus $125.6 million * Q3 myozyme revenue rose to $86 million from $76.7 million * FY 2009 earnings per share view $2.46

Standard and Poors says: Our risk assessment reflects our belief that
Genzyme's portfolio of therapeutic products and diagnostic businesses, while diverse, is subject to complex manufacturing processes and increasing competition. We see potential for new rivals to key drug Cerezyme, hastened by a lack of available supplies stemming from a temporary plant closure. We believe such competition could offset the benefits of product diversity.

I'm holding shares at a profit and am getting nervous. Does this stock really deserve to sell for this high P.E. and share price? I pass the Allston plant every day, construction is on-going. Is it really getting cleaned up to perfection where it counts? Seems to me the P.E. for this biotech should be closer to 21 or less for a price of $47.50 or so. What do you think?