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Genzyme CEO exercises options, gets $9.3 mln in net proceeds

Wed Oct 31, 2007 11:47am EDT

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Oct 31 (Reuters) - Biotechnology company Genzyme Corp's (GENZ.O) chief executive disclosed in a regulatory filing that he recently exercised his options to buy 208,749 shares and sold them in the open market for about $15.4 million.

Henri Termeer said he exercised his options to acquire the shares at $29.44 and sold them on Oct. 29 and Oct. 30 at prices ranging from $73.53 to $75.06. Termeer received about $9.3 million in net proceeds.

After the transactions, he directly owns 631,934 shares of Genzyme.

(Reporting by Shivani Singh in Bangalore)

((Editing by Himani Sarkar; Reuters Messaging: shivani.singh.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: GENZYME TERMEER/

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