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Baxter/Angiotech CoSeal

This article was originally published in The Gray Sheet

Executive Summary

Surgical sealant and Adhibit surgical anti-adhesive product will be marketed by Baxter under a worldwide (excluding Japan) strategic alliance announced Feb. 25. Angiotech expects an upfront fee of $8 mil., further payments of up to $14.7 mil., and a percentage of sales "in the low double digits." The Canadian firm completed its roughly $42 mil. acquisition of product developer Cohesion Technologies in February (1"The Gray Sheet" Feb. 24, 2003, In Brief)...

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Manufacturing rights for Angiotech's CoSeal surgical sealant and Adhibit surgical anti-adhesive products are granted to Baxter under an April 21 agreement. The pact expands on the firms' Feb. 25 alliance giving Baxter exclusive worldwide distribution rights, except for Japan (1"The Gray Sheet" March 3, 2003, In Brief)...

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U.S. clinical trials for drug-coated version of the polymer vascular surgical sealant are scheduled to begin in 2004, the company says. Angiotech Pharmaceuticals' acquisition of CoSeal developer Cohesion Technologies was completed Feb. 3 (1"The Gray Sheet" Oct. 7, 2002, p. 29). A "premixed" version of the device recently received PMA supplement approval, allowing the sealant to be loaded with an Angiotech pharmaceutical to prevent surgical adhesions. Current CoSeal improvements include easier preparation, a life span increase from 45 minutes to two hours and the ability to be stored at room temperature...

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