Genzyme Corp. has initiated a $2 billion stock buyback, under which $1 billion of stock will be repurchased in the near term and financed with debt. The additional $1 billion of stock will be repurchased over the course of the next 12 months. The company also plans to divest its Genetic testing, Diagnostic products and Pharmaceutical intermediates businesses. These initiatives are part of a five-point plan for shareholder value creation outlined by chairman and chief executive officer Henri T...