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Genzyme Biosurgery To Include Tissue Repair/Surgical Units, Biomatrix

This article was originally published in The Gray Sheet

Executive Summary

Genzyme Tissue Repair's 26-person Carticel sales force could aid Biomatrix' marketing efforts for Synvisc following the merger of Genzyme Surgical Products, Genzyme Tissue Repair and Biomatrix to create a new company, Genzyme Biosurgery.

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Genzyme reacquires Synvisc rights

Genzyme will pay Wyeth $121 mil. up-front, plus up to $294 mil. in milestones by 2012 to buy back marketing rights to the hyaluronic acid-based knee osteoarthritis treatment for the U.S. and certain European countries. Genzyme, which already markets Synvisc in the UK, France, Canada and Australia, estimates worldwide Synvisc sales at $240 mil. for 2004. The firm plans to combine Wyeth's 105-person dedicated U.S. sales force with its own 36-person U.S. team marketing Synvisc and Carticel autologous cultured chondrocytes for knee cartilage repair, extending its orthopedic market reach. Synvisc currently controls 65% of the U.S. viscosupplementation market. A U.S. hip trial is under way. Approved in the U.S. for knees in August 1997, Synvisc developer Biomatrix was acquired by Genzyme's Biosurgery division in 2000 (1"The Gray Sheet" March 13, 2000, p. 16)...

Genzyme reacquires Synvisc rights

Genzyme will pay Wyeth $121 mil. up-front, plus up to $294 mil. in milestones by 2012 to buy back marketing rights to the hyaluronic acid-based knee osteoarthritis treatment for the U.S. and certain European countries. Genzyme, which already markets Synvisc in the UK, France, Canada and Australia, estimates worldwide Synvisc sales at $240 mil. for 2004. The firm plans to combine Wyeth's 105-person dedicated U.S. sales force with its own 36-person U.S. team marketing Synvisc and Carticel autologous cultured chondrocytes for knee cartilage repair, extending its orthopedic market reach. Synvisc currently controls 65% of the U.S. viscosupplementation market. A U.S. hip trial is under way. Approved in the U.S. for knees in August 1997, Synvisc developer Biomatrix was acquired by Genzyme's Biosurgery division in 2000 (1"The Gray Sheet" March 13, 2000, p. 16)...

Genzyme Surgical Is Out Of General's Shadow Following January Run-up

Wall Street began to take note in January of Genzyme Surgical Products' leading position in the minimally invasive cardiac surgery market, as the stock price of the Genzyme General spin-off jumped 74.2%. The issue closed the month at 10-1/8, up 5-3/16.

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