Genzyme Acquires
Manufacturing Facility in Europe
October 2001--CAMBRIDGE,
Mass.--Genzyme Corporation announced today that it has
acquired certain assets of Pharming N.V., the Belgian
subsidiary of the Pharming Group currently operating
under a court-supervised receivership. These assets
include a 70,000 square foot cGMP protein manufacturing
facility currently under construction and a pilot plant
that is currently used to produce transgenic human
alpha-Glucosidase, both located in Geel, Belgium. The
acquisition has been approved by the Commercial Court in
Turnhout, the Province of Antwerp, and Genzyme's board of
directors.
In the near term, the acquisition of the Geel facility
is intended to allow Genzyme to assume control over the
production of the transgenic enzyme and secure its supply
to nine patients with Pompe disease participating in the
extension of a clinical trial. Genzyme has been solely
funding the production of the enzyme since Pharming Group
sought receivership.
In the longer term, this acquisition will broaden
Genzyme's worldwide manufacturing infrastructure by
providing the company with a biopharmaceutical production
facility located in continental Europe. Genzyme is in the
midst of a comprehensive program to substantially expand
manufacturing capacity to support the strong growth of
existing products and the launch of products within its
development pipeline. The company plans to significantly
expand protein production capacity in Geel and begin full
manufacturing operations there in 2003. As a result,
Genzyme has suspended plans to construct a recombinant
protein production facility adjacent to its Framingham,
Massachusetts, campus. Genzyme intends to retain all of
the full-time employees of Pharming N.V.
"We believe this is a positive resolution to what
has been a difficult situation," said Jan van Heek,
executive vice president of Genzyme Corp. "Most
importantly, this acquisition helps ensure that patients
will continue to receive the transgenic product. At the
same time, it will allow us to establish a new protein
manufacturing facility much sooner than we had planned.
We are eager to begin integrating the Geel facility with
our existing and planned operations."
Genzyme Corporation is a biotechnology company that
develops and markets products and services designed to
address unmet medical needs.
This press release contains
forward-looking statements, including statements about:
the anticipated benefits of the acquisition of the Geel
facility; expectations concerning Genzyme's ability to
produce transgenic enzyme; plans for the Geel facility
and the employees; and product development plans. Actual
results may materially differ due to numerous factors,
including without limitation: the content and timing of
filings with and decisions by courts and other
authorities; access to materials supplied by third
parties; the results of feasibility studies, product
development efforts and clinical studies; the ability to
manufacture sufficient quantities of product in a timely
manner; and the risks and uncertainties described in
reports filed by Genzyme Corporation with the Securities
and Exchange Commission under the Securities Exchange Act
of 1934, as amended, including without limitation Exhibit
99.2 to Genzyme's 2000 Annual Report on Form 10-K, as
amended.
Genzyme® is a registered trademark of
Genzyme Corporation. All rights reserved.
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