EXHIBIT 99.1

           GENZYME ANNOUNCES PRICING OF CONVERTIBLE SUBORDINATED NOTES

CAMBRIDGE, Mass., May 3, 2001 -- Genzyme Corp. today announced that it has
established terms for the private placement of 3 percent convertible
subordinated notes that is expected to generate approximately $500 million. The
sale of the notes is expected to close on May 8, 2001. Genzyme has also granted
the initial purchasers of this offering a 30-day option to purchase additional
notes of approximately $75 million.

The notes will be convertible into Genzyme General common stock (Nasdaq: GENZ)
at a conversion price of $140.60 per share. The notes are due on May 15, 2021,
and are first callable on May 20, 2004. Genzyme General expects to use the
proceeds from the sale of the notes for working capital and general corporate
purposes.

The securities have not been registered under the United States Securities Act
of 1933 and may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements. This press release
does not constitute an offer to sell the notes, nor is Genzyme soliciting offers
to buy them.

Genzyme Corp. is a biotechnology and health care products company that develops
innovative products and services for major unmet medical needs.

Genzyme's releases are available at www.genzyme.com. They are also available
from Genzyme's fax-on-demand service at 1-800-436-1443 within the United States
or 1-201-521-1080 outside the United States.

CONTACT: Media Contact: Bo Piela, 617-252-7785, or Investor Contact: Sally
Curley, 617-591-7140, both of Genzyme.