Conor Medsystems picks up paclitaxel manufacturer
This article was originally published in The Gray Sheet
Executive Summary
Except for an existing supply of finished paclitaxel, the majority of Phytogen Life Science's assets will be sold off following Conor's $3.8 mil. acquisition of the bankrupt firm. Phytogen supplied Conor with paclitaxel for the CoStar paclitaxel-eluting stent and had been shielded by Conor in the case of litigation, specifically from Boston Scientific, which licenses paclitaxel from Angiotech Pharmaceuticals. Conor's existing supply and royalty arrangements with Phytogen are henceforth terminated; Conor believes supply of the drug will last for many years (1"The Gray Sheet" Feb. 7, 2005, p. 7)...
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