Smith & Nephew Acquires Collagenase Wound Care Product
The product, branded as Santyl in North America and as Iruxol and Novuxol in the rest of the world, is one of the three largest wound care products globally. The product is an enzyme which cleanses and debrides chronic wounds and burns. Sales for 1999 are estimated at 44 million pounds, and growing at approximately eight percent.
Smith & Nephew will acquire the trademarks, manufacturing rights and distribution rights, in a phased program, for all territories outside North America. In North America, Smith & Nephew will acquire the trademarks and an exclusive sub-license for the marketing and sale of Collagenase, where the product is sold under license from Advance Biofactures Corp. (a subsidiary of Biospecifics Technologies Corp.), which has given consent to this agreement and will continue to supply the active ingredient for the product sold in North America. BASF Pharma will continue to manufacture the product on behalf of Smith & Nephew under a long-term agreement.
Smith & Nephew will assume distribution of the product immediately in the United States and Canada and on a phased basis in the rest of the world.
Chris O'Donnell, chief executive of Smith & Nephew, commented: "The acquisition of Collagenase represents a transforming step for our wound management business. It provides a 20% step-up in our wound management sales, adding significant selling resources world-wide, and establishing Smith & Nephew as clear global leaders in this market. Our focus on the growth markets in orthopedics, endoscopy and wound management is further emphasized by this acquisition."
Edited by Ursula Jones