(PROSPECTUS SUPPLEMENT NO. 2)                   Filed pursuant to Rule 424(b)(3)
(To Prospectus dated October 24, 2001)                Registration No. 333-67506


                                  $400,000,000
                                   Enzon, Inc.

                 4 1/2% Convertible Subordinated Notes Due 2008

                                   ----------

This  Prospectus  Supplement No. 2 supplements  and amends the Prospectus  dated
October 24, 2001 relating to the 4 1/2% Convertible  Subordinated Notes due 2008
of  Enzon,  Inc.  and the  shares  of  common  stock  into  which  the notes are
convertible, at various times at market prices prevailing at the time of sale or
at privately negotiated prices.

The table on pages 38 through 40 of the prospectus,  which set forth information
with  respect  to the  selling  holders  and the  respective  amounts  of  notes
beneficially owned by each selling holder is hereby amended as follows:

     The deletion from the prospectus of:

          McMahon Securities Co. L.P...............................   $2,250,000

          Onex Industrial Partners Limited.........................   $4,290,000

          Pebble Capital Inc.......................................     $720,000

          Rockhaven Premier Dividend Fund..........................     $690,000

          Silver Creek II Limited..................................   $6,390,000

          Silver Creek Limited Partnership.........................   $1,600,000

          Any Other Holder of Notes or Future Transferee
            from any Such Holder...................................   $8,340,000

     and the substitution of the following:

          Canyon  Value Realization Fund (Cayman), Ltd.............   $5,000,000

          Canyon Capital Arbitrage Master Hedge Fund, Ltd..........   $2,000,000

          Canyon Mac 18 Ltd. (RMF).................................   $1,500,000

          Canyon Value Realization Fund, L.P.......................   $2,500,000

          McMahon Securities Co. L.P. .............................   $1,000,000

          Onex Industrial Partners Limited.........................   $6,390,000

          Pebble Capital Inc.......................................   $3,020,000

          Rockhaven Premier Dividend Fund..........................     $790,000

Silver Creek II Limited.................................. $9,890,000 Silver Creek Limited Partnership......................... $3,700,000 The prospectus, together with Prospectus Supplement No. 1 and this Prospectus Supplement No. 2, constitutes the prospectus required to be delivered by Section 5(b) of the Securities Act of 1933, as amended, with respect to offers and sales of the notes and the common stock issuable upon conversion of the notes. All reference in the prospectus to "this prospectus" are hereby amended to read "this prospectus (as supplemented and amended)" Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. The date of this Prospectus Supplement is November 16, 2001.