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Genzyme Reports Strong First-Quarter Growth
Date:4/23/2008

been added to

diluted weighted average shares outstanding for both of these periods

for purposes of computing diluted earnings per share.

GENZYME CORPORATION (GENZ)

Condensed Consolidated Balance Sheets March 31, December 31,

(Unaudited, amounts in thousands) 2008 2007

Cash and all marketable securities $1,447,983 $1,460,394

Other current assets 1,818,541 1,661,740

Property, plant and equipment, net 2,118,960 1,968,402

Intangibles, net (1) 3,386,451 2,959,480

Other assets (2) 311,581 251,725

Total assets $9,083,516 $8,301,741

Current liabilities $1,475,663 $1,502,406

Noncurrent liabilities (1) 658,936 186,398

Stockholders' equity 6,948,917 6,612,937

Total liabilities and stockholders'

equity $9,083,516 $8,301,741

(1) Effective January 1, 2008, in connection with the restructuring of

BioMarin/Genzyme LLC, our joint venture with BioMarin Pharmaceutical

Inc., we licensed certain rights to commercialize Aldurazyme from the

joint venture and, in accordance with the provisions of FASB

Interpretation No. 46R, "Consolidation of Variable Interest Entities,"

began consolidating the results of the joint venture at fair value. As

of March 31, 2008, intangibles, net, includes $480,500K for the fair

value of the joint venture's manufacturing and commercialization

rights to Aldurazyme, offset by $(6,006)K of related accumulated

amortization. Noncurrent liabilities includes $474,494K of additional

net liabilities relat
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SOURCE Genzyme Corp.
Copyright©2008 PR Newswire.
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