Healthcare Industry News: Shire Plc
News Release - January 17, 2014
Organogenesis Inc. Announces Acquisition of Dermagraft(R) from ShireProduct Acquisition Solidifies Organogenesis Position as Industry Leader
CANTON, Mass., Jan. 17, 2014 -- (Healthcare Sales & Marketing Network) -- Organogenesis Inc., a commercial leader in the field of regenerative medicine, announced today that it has purchased the Dermagraft® assets (human fibroblast-derived dermal substitute) from Shire Plc (LSE: SHP, NASDAQ: SHPG).
"Organogenesis is a pioneering company in the regenerative medicine and wound healing fields, and we are now the proud owners of two products containing living cells that are FDA-approved for wound healing. In the midst of a CMS coverage decision which limits access to FDA-proven technology, this deal was necessary to keep both assets on the market and available for patient treatment," said Geoff MacKay, president and Chief Executive Officer of Organogenesis Inc. "We look forward to providing patients and clinicians with Apligraf® and Dermagraft: two evidence-based, well-proven products designed to heal chronic wounds."
Dermagraft is approved for the treatment of nonhealing diabetic foot ulcers in the U.S. and Canada. Headquartered in Canton, Mass., Organogenesis will continue to manufacture and distribute Dermagraft from its existing facilities in La Jolla, Calif.
"In the U.S. alone, more than three million people are suffering from chronic leg and foot wounds. As a physician dedicated to healing these wounds, this is very exciting news," said Robert S. Kirsner, M.D., PhD, Professor, Vice Chairman & Endowed Stiefel Laboratories Chair, Department of Dermatology & Cutaneous Surgery, at the University of Miami Miller School of Medicine and Chief of Dermatology for the University of Miami Hospital. "For many years, Organogenesis has worked with clinicians and scientists to advance scientific discussion and understanding of the field. It's terrific to see that, despite recent changes in Medicare reimbursement that have threatened patient access to wound healing products containing living cells, Organogenesis remains committed to ensuring clinicians and their patients have evidence-based tools and information to help heal these debilitating wounds."
About Organogenesis Inc.
Having pioneered the field, Massachusetts-based Organogenesis Inc. is a world leading regenerative medicine company focused in the areas of bio-active wound healing and oral regeneration. The company's mission is to bring the medical marvel of regenerative medicine products to patients and to standardize their use in everyday medical care. For more information, visit www.organogenesis.com.
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