Genzyme reacquires Synvisc rights
This article was originally published in The Gray Sheet
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)...
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