MURRAY HILL, N.J., Dec 17, 2007 (BUSINESS WIRE) -- C. R. Bard, Inc. (NYSE: BCR) today announced that it has entered
into a license agreement with Genzyme Corporation (Nasdaq: GENZ),
headquartered in Cambridge, Massachusetts, to manufacture and market
the Sepramesh(R) IP hernia repair product line and to incorporate the
related Sepra(R) coating technology into the development of future
hernia repair applications. Bard's Davol subsidiary, located in
Cranston, Rhode Island, will begin marketing the line immediately.
Details of the agreement were not disclosed.
The Genzyme Sepra(R) technology is the recognized market leader in
adhesion protection following surgery and is used by Genzyme across a
portfolio of products. The Sepramesh(R) IP product incorporates a
polypropylene mesh with a layer of Sepra(R) material on one side. The
product combines the strength of a permanent implant with a
bioresorbable hydrogel barrier to minimize tissue attachment to the
mesh. This protective coating is absorbed over time, resulting in a
permeable, flexible hernia repair.
Timothy M. Ring, chairman and chief executive officer, commented,
"There is a growing desire in the hernia repair market for products
that reduce the amount of material that remains permanently in place.
Looking at our broad portfolio of devices for hernia repair,
absorbable barrier products represent one of the best near-term
opportunities to enhance our offering. The Sepramesh(R) IP product
accelerates our entry into this space and represents a good growth
opportunity for 2008 and beyond."
C. R. Bard, Inc., (www.crbard.com) headquartered in Murray Hill,
N.J., is a leading multinational developer, manufacturer and marketer
of innovative, life-enhancing medical technologies in the fields of
vascular, urology, oncology and surgical specialty products.
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
which are based on management's current expectations, the accuracy of
which is necessarily subject to risks and uncertainties. These
statements are not historical in nature and use words such as
"anticipate", "estimate", "expect", "project", "intend", "forecast",
"plan", "believe", and other words of similar meaning in connection
with any discussion of future operating or financial performance. Many
factors may cause actual results to differ materially from anticipated
results including product developments, sales efforts, income tax
matters, the outcomes of contingencies such as legal proceedings, and
other economic, business, competitive and regulatory factors. The
company undertakes no obligation to update its forward-looking
statements. Please refer to the Cautionary Statement Regarding
Forward-Looking Information in our September 30, 2007 Form 10-Q/A for
more detailed information about these and other factors that may cause
actual results to differ materially from those expressed or implied.
Sepramesh(R), Sepra(R) and Genzyme(R) are registered trademarks of
Genzyme Corporation, Cambridge, MA. All rights reserved.
SOURCE: C. R. Bard, Inc.
C. R. Bard, Inc.
Eric J. Shick, 908-277-8413
Vice President, Investor Relations
Holly P. Glass, 703-754-2848
Vice President, Government and Public Relations