15.1 INTRODUCTION

Kate Hudson was finishing her MBA education and hoping to work for Genzyme Corporation in Boston. Having a degree in biochemistry, Kate could relate to the products that Genzyme developed, and was keen to understand a little more about the corporate structure, financial results and investment decisions that she might face on a day-to-day basis.

15.2 OVERVIEW OF GENZYME CORPORATION

Genzyme Corporation is a biotechnology company that develops and markets innovative products and services designed to address significant unmet medical needs. The corporation is comprised of three divisions, each with its own tracking stock .

Genzyme General develops and markets therapeutic products and diagnostic products and services. This division has four therapeutic products on the market and a strong pipeline of therapeutic products in development, focused on the treatment of genetic disorders and other chronic debilitating diseases. Genzyme General also manufactures and markets diagnostic products, genetic testing services and pharmaceutical intermediates.

Genzyme Biosurgery was formed in December 2000 by combining two Genzyme divisions, Genzyme Surgical Products and Genzyme Tissue Repair with Biomatrix, Inc. This division develops and markets a portfolio of devices, advanced biomaterials and biotherapeutics, primarily for cardiothoracic, orthopedic and general surgery markets.

Genzyme Molecular Oncology is developing a new generation of cancer products, focusing on cancer vaccines and angiogenesis inhibitors. This division of Genzyme is attempting to integrate its gene discovery, gene therapy, small molecule drug discovery, protein therapeutic and genetic diagnostic efforts.