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Genzyme Reports Strong Second-Quarter Growth
Date:7/23/2008

8. To participate in the call, please dial 773-799-3828 and refer to pass code "Genzyme." A replay of this call will be available by dialing 402-998-1342. This call will also be Webcast live on the investor events section of http://www.genzyme.com. Replays of the call and the Webcast will be available until midnight on October 29, 2008.

Genzyme's press releases and other company information are available at http://www.genzyme.com and by calling Genzyme's investor information line at 1-800- 905-4369 within the United States or 1-678-999-4572 outside the United States.

GENZYME CORPORATION (GENZ)

Consolidated Statements of Operations

(Unaudited, amounts in thousands, except per share amounts)

Three Months Ended Six Months Ended

June 30, June 30,

2008 2007 2008 2007

Total revenues $1,171,134 $933,419 $2,271,195 $1,816,602

Operating costs and expenses:

Cost of products and

services sold(1) 300,330 217,598 572,643 420,061

Selling, general and

administrative(1,2) 347,305 339,480 665,691 608,501

Research and development

(1,3,4) 381,861 198,442 644,658 364,562

Amortization of intangibles 55,605 49,465 111,263 99,482

Total operating costs and

expenses 1,085,101 804,985 1,994,255 1,492,606

Operating income 86,033 128,434 276,940 323,996

Other income (expenses):

Equity in income of equity

method investments - 5,945 188 11,557

Minority interest 563 15 1,026
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SOURCE Genzyme Corporation
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