GENZYME TO INITIATE TENDER OFFER TO ACQUIRE ANORMED, INC.

Genzyme Corporation announced that it plans to initiate a tender offer to acquire AnorMED, Inc.of Vancouver, British Columbia. The tender offer will take the form of an all cash transaction valued at US$8.55 per outstanding share, or approximately $380 million. This offer represents a premium of approximately 70% over AnorMED's closing price of US$5.02 on the American Stock Exchange on August 29, 2006.
PR Newswire