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Sulzer Biologics Ne-Osteo U.S. Fusion Filing Awaits Marketing Agreement

This article was originally published in The Gray Sheet

Executive Summary

Sulzer Biologics says it will find a U.S. distribution partner for the Ne-Osteo Spine bone morphogenic protein prior to pursuing FDA approval for use in spinal fusion.

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A preliminary federal appeals court decision allowing individual Inter-Op hip shells and Natural Knee II implant lawsuits to proceed, combined with a sagging price in Sulzer Medica stock, may doom the firm's proposed $783 mil. class action settlement, forcing Sulzer to seek protection under federal bankruptcy laws

Viability Of Sulzer Inter-Op Proposed Class Action Settlement In Doubt

A preliminary federal appeals court decision allowing individual Inter-Op hip shells and Natural Knee II implant lawsuits to proceed, combined with a sagging price in Sulzer Medica stock, may doom the firm's proposed $783 mil. class action settlement, forcing Sulzer to seek protection under federal bankruptcy laws

Sulzer Medica Ne-Osteo

Bone morphogenic protein product development program is terminated Oct. 9. Sulzer says it "does not feel the program will yield the required commercial results." Regulatory obstacles had been encountered by two potential competitors in the bone growth factor area - Stryker and Wyeth-Ayerst (1"The Gray Sheet" July 9, 2001, p. 14). The company plans to close a related Denver facility, lay off about 60 workers and concentrate its continuing U.S. biologics R&D efforts in Austin. Thomas Zehnder, VP-business and technology development, will replace former Sulzer Biologics President Jerry Marlar, who has resigned. One-time restructuring costs of $7 mil. and annual savings of $8 mil. are anticipated. Sulzer booked a second-quarter loss of about $399 mil. due to the Inter-Op hip recall

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