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Escalon Medical

This article was originally published in The Gray Sheet

Executive Summary

Ophthalmic surgical and pharmaceutical product developer acquires Lake Success, New York-based ophthalmic ultrasound maker Sonamed for approximately $12.5 mil. in cash. Sonamed is profitable and recorded 1999 sales of about $7 mil. Separately, Escalon has decided to discontinue Phase I clinical trials of its Ocufit SR ophthalmic drug delivery system it has been developing jointly with West Pharmaceutical Services. Escalon cites poor initial results in a Jan. 18 release
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