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
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.