Genzyme Receives Approval to Market Elaprase(R...(al countries. The company anticipates ap...)

Under its agreement with Shire, Genzyme will record product sales in the region and allocate approximately one-third of net sales to Shire. Genzyme will make a $3 million milestone payment to Shire in recognition of Japanese marketing approval, and it will make a $4 million milestone payment upon reimbursement approval.

Genzyme established commercial operations in Japan twenty years ago and currently employs more than 100 people in the country. Genzyme was the first non-Japanese biotechnology company to introduce therapeutic products in Japan without Japanese partners. The company today also markets Seprafilm(R) adhesion barrier and offers genetic testing services.

About Genzyme

One of the world's leading biotechnology companies, Genzyme is dedicated to making a major positive impact on the lives of people with serious diseases. Since 1981, the company has grown from a small start-up to a diversified enterprise with nearly 10,000 employees in locations spanning the globe and 2006 revenues of $3.2 billion. In 2007, Genzyme was chosen to receive the National Medal of Technology, the highest honor awarded by the President of the United States for technological innovation. In 2006 and 2007, Genzyme was selected by FORTUNE as one of the "100 Best Companies to Work for" in the United States.

With many established products and services helping patients in nearly 90 countries, Genzyme is a leader in the effort to develop and apply the most advanced technologies in the life sciences. The company's products and services are focused on rare inherited disorders, kidney disease, orthopaedics, cancer, transplant, and diagnostic testing. Genzyme's commitment to innovation continues today with a substantial development program focused on these fields, as well as immune disease, infectious disease, and other areas of unmet medical
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