The OP-1 products include the OP-1 Implant, OP-1 Putty, Opgenra and Osigraft. The transaction also includes the sale of the OP-1 manufacturing facility in Lebanon, N.H. As part of the agreement, Stryker will incur a one-time non-cash charge of approximately $75 million-$80 million in the fourth quarter of 2010 to anticipate the loss on the sale.
After the agreement, Stryker will redirect a portion of the related research and development spending to other internal products. Clinical efforts already underway include working with BMP-7 for potential use in osteoarthritis and non-orthopedic applications.
Read the Stryker release on the agreement.
Read other coverage on Stryker:
– Stryker Expected to Contract With Brooke Army Medical Center
– Stryker Acquires Boston Scientific Corp.’s Neurovascular Business for $1.5B
– Stryker Reports a 7% Net Sales Increase for 3Q 2010
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