Wright Medical Concludes Take over

Orthopedic devices maker Wright Medical Group recently reported that it had concluded its take over of BioMimetic Therapeutics. This deal will amalgamate Wright Medical’s strong sales team and product lineup with BioMimetic’s biologics offering pipeline.
On Nov 19, 2012, Wright Medical revealed its intention to take over BioMimetic Therapeutics for an initial cash payment of $190 million to be followed by subsequent milestone outflows up to another $190 million. However, this will only be triggered if the Augment Bone Graft technology receives FDA nod.BioMimetic placed, in June 2012, a responsive Premarket Approval (PMA) modification in response to the FDA’s request for more data. Wright Medical expects a final regulatory decision during the timeframe between Apr 2013 and Jan 2014. Should the Augment Bone Graft receive the regulatory nod, it will be a new protein therapeutic substance to enter the market after many years.
Including the effect of BioMimetic, Wright Medical’s sales band stands in the neighborhood of $485 million to $495 million for 2013.