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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
NOVEMBER 20, 2000
GENZYME CORPORATION
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-14680 06-1047163
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
ONE KENDALL SQUARE, CAMBRIDGE, MASSACHUSETTS 02139
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
(617) 252-7500
(Former Name, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On November 20, 2000, Genzyme Corporation ("Genzyme") exercised its
option to purchase all of the outstanding Class A limited partnership interests
of Genzyme Development Partners, L.P. pursuant to the terms of the Partnership
Purchase Option Agreement dated as of September 13, 1989 and filed as Exhibit
10(dd) to Genzyme's Registration Statement on Form S-4, File No. 33-32343.
Genzyme will purchase each Class A limited partnership interest on January 12,
2001 for an advance cash payment price of $35,000 (or $17,500 for each half
interest) plus royalties on sales of the Sepra products for ten years as
provided under the Partnership Purchase Agreement. The aggregate advance cash
payment price for the Class A limited partnership interests will be
approximately $26 million. For further details on how the royalties are paid,
you should read the Partnership Purchase Agreement, which has been filed as
Exhibit 10(ee) to Genzyme's Registration Statement on Form S-4, File No.
33-32343.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 20, 2000 GENZYME CORPORATION
By: /s/ Earl M. Collier, Jr.
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Earl M. Collier, Jr.
Executive Vice President;
President, Genzyme Surgical
Products
