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Genzyme 2004 Annual Report
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Table of Contents
2004 - A Transforming Year
Financial Highlights
Letter To Shareholders
A Future of Hope
Building a Sustainable Future
Focused Medical Areas
Genetic Diseases
Renal Disease
Orthopaedics
Oncology
Transplant / Immune Diseases
Genetics / Diagnostics
A Future of Innovation
A Future of Commitment
A Future of Growth
Transplant and Immune Diseases
Thymoglobulin, our best-in-class immunosuppressant, is the standard of care for treating and preventing acute rejection in kidney transplant patients. This therapy is our first commercial product in diseases of the immune system.

PhotoIn December 2004, Glenn received a kidney transplant thanks to an organ donation from his girlfriend.  Glenn can spend more time with his 2-year-old son, James, and he is looking forard to returning to his job in construction.

Geographic expansion
Thymoglobulin is well established in the United States, Canada, and, with a label for broader use, in Europe. We are now bringing this product to new regions in Asia, the Pacific, and Latin America. In 2005, we anticipate filing for approval of Thymoglobulin in Australia. We also expect to commercialize Thymoglobulin in Latin America. We have filed for approval of this product in Japan, where we also market Lymphoglobuline for severe aplastic anemia.

To meet increasing demand, in 2004 we made significant process and quality assurance improvements in our manufacturing facility in Lyon, France. We are also integrating Thymoglobulin into our own distribution system. In 2005, we plan to begin packaging at our Haverhill plant and to move the finishing operation to our Waterford facility in 2006. We are centralizing customer service in the Netherlands and the United States.

Investigating new uses
With the goal of improving the long-term health of patients, we are expanding the market for Thymoglobulin with studies and publications of new uses. In January 2005, we completed enrollment in a clinical trial of this product to prevent rejection in recipients of living donor kidney transplants and help mitigate serious side effects. We expect to present interim data at the American Transplant Congress in May 2005. We also began enrollment of a trial of Thymoglobulin as a conditioning therapy for bone marrow transplant in patients with severe leukemia. In early 2005, we initiated a trial of Thymoglobulin induction in the liver, which we hope to complete during the year. After the kidney, the liver is the organ most often transplanted.

Genzyme is committed to the wide range of immune-mediated diseases. We are studying a number of product candidates and believe that Thymoglobulin has potential beyond transplant. Because we are focused on breakthrough products, we are exiting the market for the generic cyclosporine and Gengraf.