Bard R&D To Triple In Three Years Through Savings From Plant Consolidation
This article was originally published in The Gray Sheet
Executive Summary
Consolidation of C.R. Bard manufacturing and non-manufacturing facilities over the next three years is expected to save the firm up to $70 mil. annually and allow the firm to roughly triple its R&D budget to about $150 mil. by 2004.
You may also be interested in...
Theragenics/Bard
Five-year, non-exclusive distribution agreement with C.R. Bard for Theragenics' TheraSeed palladium-103 radioactive isotope seeds for treatment of prostate and other solid localized cancers is announced Jan. 5. The agreement covers distribution in the U.S., Canada and Puerto Rico
Bard/Endologix
Bard passes on its option to acquire minimally invasive abdominal aortic aneurysm device maker Endologix but will remain exclusive distributor for the AAA product in Europe and Australia, the firm announces Dec. 14. The Endologix AAA device "continues to show promise;" however, "we do not believe this opportunity warrants the significant investment required" under the August 1999 option agreement, Bard explains. A fourth quarter charge will be taken in connection with the decision
Bard Views GI, AAA Devices And Brachytherapy Seeds As Key Growth Drivers
Bard is hopeful that the Health Care Financing Administration will deem the firm's endoscopic suturing system for gastroesophageal reflux disease eligible for supplementary reimbursement under the agency's outpatient prospective payment system.