Healthcare Industry News: Bard
News Release - December 17, 2007
Bard to License Hernia Product and Technology from Genzyme CorporationMURRAY HILL, N.J.--(HSMN NewsFeed)--C. R. Bard, Inc. (NYSE: BCR ) today announced that it has entered into a license agreement with Genzyme Corporation (Nasdaq: GENZ ), headquartered in Cambridge, Massachusetts, to manufacture and market the Sepramesh® IP hernia repair product line and to incorporate the related Sepra® coating technology into the development of future hernia repair applications. Bard’s Davol subsidiary, located in Cranston, Rhode Island, will begin marketing the line immediately. Details of the agreement were not disclosed.
The Genzyme Sepra® technology is the recognized market leader in adhesion protection following surgery and is used by Genzyme across a portfolio of products. The Sepramesh® IP product incorporates a polypropylene mesh with a layer of Sepra® material on one side. The product combines the strength of a permanent implant with a bioresorbable hydrogel barrier to minimize tissue attachment to the mesh. This protective coating is absorbed over time, resulting in a permeable, flexible hernia repair.
Timothy M. Ring, chairman and chief executive officer, commented, “There is a growing desire in the hernia repair market for products that reduce the amount of material that remains permanently in place. Looking at our broad portfolio of devices for hernia repair, absorbable barrier products represent one of the best near-term opportunities to enhance our offering. The Sepramesh® IP product accelerates our entry into this space and represents a good growth opportunity for 2008 and beyond.”
C. R. Bard, Inc., (www.crBard.com) headquartered in Murray Hill, N.J., is a leading multinational developer, manufacturer and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology and surgical specialty products.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current expectations, the accuracy of which is necessarily subject to risks and uncertainties. These statements are not historical in nature and use words such as “anticipate”, “estimate”, “expect”, “project”, “intend”, "forecast", “plan", “believe”, and other words of similar meaning in connection with any discussion of future operating or financial performance. Many factors may cause actual results to differ materially from anticipated results including product developments, sales efforts, income tax matters, the outcomes of contingencies such as legal proceedings, and other economic, business, competitive and regulatory factors. The company undertakes no obligation to update its forward-looking statements. Please refer to the Cautionary Statement Regarding Forward-Looking Information in our September 30, 2007 Form 10-Q/A for more detailed information about these and other factors that may cause actual results to differ materially from those expressed or implied.
Sepramesh®, Sepra® and Genzyme® are registered trademarks of Genzyme Corporation, Cambridge, MA. All rights reserved.
Source: C. R. Bard
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