GENZYME THERAPEUTICS LIMITED
Company Information
- Company Number
- 04316333
- Registered Address
- 410 Thames Valley Park Drive, Reading, Berkshire, England, RG6 1PT
- Status
- Active
- Employee Count
- 2
- Turnover
- £0
- EBITDA
- £0
Additional Details
- Website
- https://sanofi.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 5 November 2001
- Nature of Business
- 74990 - Non-trading company
- Industries
- Life Sciences And Medical Technology
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The trend for GENZYME THERAPEUTICS LIMITED over the past three periods has been a steady decrease in the average time taken to pay invoices. This trend is reflected in the percentage of invoices paid within 30 days, which has steadily increased, while the percentage of invoices paid later than 60 days has decreased.
Volatility Analysis
The volatility for GENZYME THERAPEUTICS LIMITED has been relatively low over the past three periods, with only minor fluctuations in the percentages of invoices paid within 30 days and between 31 and 60 days. However, there has been a significant increase in the percentage of invoices paid later than 60 days in the most recent period, which may indicate a concerning trend.
Summary Analysis
GENZYME THERAPEUTICS LIMITED has shown a consistent improvement in their payment process over the past three periods, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days. However, there has been a concerning increase in the percentage of invoices paid later than 60 days in the most recent period. This may be an area for the company to focus on in order to maintain their overall improvement in payment efficiency.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 30 Jun 2020 - 30 Dec 2020 | 18 Jan 2021 | 98 | 12% | 6% | 82% | 82% |
| 31 Dec 2019 - 29 Jun 2020 | 15 Jul 2020 | 39 | 53% | 32% | 15% | 38% |
| 30 Jun 2019 - 30 Dec 2019 | 16 Jan 2020 | 37 | 46% | 42% | 12% | 12% |
| 31 Dec 2018 - 29 Jun 2019 | 25 Jul 2019 | 44 | 28% | 64% | 8% | 12% |
| 30 Jun 2018 - 30 Dec 2018 | 24 Jan 2019 | 47 | 26% | 68% | 6% | 11% |
| 31 Dec 2017 - 29 Jun 2018 | 18 Jul 2018 | 51 | 31% | 52% | 17% | 28% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 60 days from the date of receipt of a valid and correct invoice
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Intercompany invoices and performance have been included in reported statistics. These in general are wholly owned by group companies and do distort performance (detrimentally) as more emphasis and monitoring is put on payment to third parties. The third parties payments have decreased to a low volume, due to the legal entity being merged and closed. This is reflected in the significant reported payment performance change. Payment late overall 82%- Third party is 23% but Interco is 98%.
Maximum contractual payment period agreed
90
Dispute Resolution Process
In the first instance disputes will be received by our Invoice processing contact centre at the defined email address or telephone number printed on every Purchase Order. Queries will then be forwarded to the requester of the service/goods for information and evaluation. Failure to meet resolution will be escalated to the Head of Purchase to Pay and include the specific Category Buyer for the service/goods that is responsible for the vendor relationship.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
✅
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
Genzyme Therapeutics Limited is a biotechnology company based in the United Kingdom. The company is dedicated to developing innovative treatments for rare genetic diseases and other medical conditions. Genzyme is committed to sustainable practices and has a strong focus on corporate responsibility.
The company's sustainability program includes initiatives to reduce its environmental impact, such as implementing energy-efficient practices and reducing waste. They also prioritize ethical and responsible business practices, including promoting diversity and inclusion, fair labor practices, and ethical sourcing of materials.
One of Genzyme's key products is a treatment for Gaucher disease, a rare genetic disorder. They also offer treatments for other rare diseases, such as Pompe disease and Fabry disease. These treatments have significantly improved the lives of patients and have been approved by regulatory bodies in many countries.
Genzyme's team is led by key people such as the CEO, Dr. Bill Sibold, who has over 20 years of experience in the biotechnology industry. The company also has a strong team of scientists, researchers, and healthcare professionals working towards their mission of improving patients' lives.
To learn more about Genzyme Therapeutics Limited and their products and services, you can visit their website at www.genzyme.co.uk. Their registered office address is 1-3 Strand Road, Swalwell, Newcastle upon Tyne, NE16 3DS.
