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

) (28,677) (31,455)

Total pre-tax charges

for stock-based

compensation expense (54,307) (61,256) (96,295) (101,963)

Tax benefit 16,834 18,703 29,371 31,135

Stock-based compensation

expense, net of tax $(37,473) $(42,553) $(66,924) $(70,828)

Diluted earnings per share and diluted weighted average shares

outstanding for the three and six months ended June 30, 2008 and 2007

were computed according to the provisions of FAS 123R.

(2) Includes a pre-tax charge of $(64,000)K recorded in June 2007

to settle the litigation related to the consolidation of our former

tracking stocks.

(3) For the three and six months ended June 30, 2007, includes a pre-tax

charge of $(25,000)K for an upfront milestone payment paid to Ceregene

Inc. in June 2007 for the development and commercialization of certain

gene therapy products.

(4) For the three and six months ended June 30, 2008, includes a pre-tax

charge of $(175,000)K for a license fee paid to Isis Pharmaceuticals,

Inc. ("Isis") in June for the exclusive worldwide rights of

mipomersen. For the six months ended June 30, 2008, also includes a

pre-tax charge of $(69,900)K representing the premium paid to purchase

five million shares of Isis common stock in February 2008.

(5) For the six months ended June 30, 2007, includes a pre-tax gain of

$10,848K recorded on the sale of our entire investment in the common

stock of Therapeutic Human Polyclonals Inc. in March 2007, which had a

zero cost basis.

(6) For the three and six months ended June 30, 2008, includes a net

pre-tax gain of $9,015K recorded in the second quarter of 2008,

consisting of a pre-tax gain of $10,304K resulting from the

liquidation
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SOURCE Genzyme Corporation
Copyright©2008 PR Newswire.
All rights reserved

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