1st Oct 2007 15:39
Smith & Nephew Plc01 October 2007 FOR IMMEDIATE RELEASE Smith & Nephew restructures agreement with manufacturer of ACTICOAT*nanocrystalline silver antimicrobial dressing range HULL, UK October 1 2007 - The Advanced Wound Management division of Smith &Nephew plc (LSE: SN; NYSE:SNN) announced today that it has restructured itsagreement with Nucryst Pharmaceuticals Corp, ("Nucryst") the manufacturer of itsACTICOAT* nanocrystalline silver antimicrobial dressing range. The new agreement gives Smith & Nephew improved commercial terms which includeallowing the introduction by Smith & Nephew of new forms of silver dressingstogether with priority rights for new nanocrystalline silver technologydeveloped by Nucryst as well as continued exclusive rights for the ACTICOATrange,. The financial terms of the agreement include the early payment of a $5mmilestone payment to Nucryst by Smith & Nephew as part of a package of amendedfinancial terms. Joe Woody, President of the Advanced Wound Management division said "Our workwithin the group-wide Earnings Improvement Programme, announced earlier thisyear, includes a review of our product portfolio, including ACTICOAT. Thisagreement enables Smith & Nephew to introduce new forms of silver products whichmeet the increasingly diverse needs of patients and improve the quality of theirlives. The enhanced financial terms we have agreed will allow Smith & Nephew toincrease its investment in the silver dressings market and to expand its marketpresence". Contact: Sidonie Myers Head of Communication Smith & Nephew Advanced Wound Management +44 (0) 1482 673246 [email protected] Notes for Editors About Us Smith & Nephew Advanced Wound Management, with headquarters in the UnitedKingdom, employs more than 3,100 people around the world. The organisation hasmanufacturing centres in the United Kingdom and Largo, FL. Smith & Nephew is a global medical technology business, specialising inOrthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies, Endoscopyand Advanced Wound Management products. Smith & Nephew is a global leader inarthroscopy and advanced wound management and is one of the leading globalorthopaedics companies. Smith & Nephew is dedicated to helping improve people's lives. The Companyprides itself on the strength of its relationships with its surgeons andprofessional healthcare customers, with whom its name is synonymous with highstandards of performance, innovation and trust. The Company has 9,600 employeesand operates in 31 countries around the world generating annual salesapproaching $2.8 billion. Forward-Looking Statements This press release contains certain "forward-looking statements" within themeaning of the US Private Securities Litigation Reform Act of 1995. In particular, statements regardingexpected revenue growth and trading margins discussed under "Outlook" areforward-looking statements as are discussions of our product pipeline. Thesestatements, as well as the phrases "aim", "plan", "intend", "anticipate","well-placed", "believe", "estimate", "expect", "target", "consider" and similarexpressions, are generally intended to identify forward-looking statements. Suchforward-looking statements involve known and unknown risks, uncertainties andother important factors (including, but not limited to, the outcome oflitigation, claims and regulatory approvals) that could cause the actualresults, performance or achievements of Smith & Nephew, or industry results, todiffer materially from any future results, performance or achievements expressedor implied by such forward-looking statements. Please refer to the documentsthat Smith & Nephew has filed with the U.S. Securities and Exchange Commissionunder the U.S. Securities Exchange Act of 1934, as amended, including Smith &Nephew's most recent annual report on Form 20F, for a discussion of certain ofthese factors. All forward-looking statements in this press release are based on informationavailable to Smith & Nephew as of the date hereof. All written or oralforward-looking statements attributable to Smith & Nephew or any person actingon behalf of Smith & Nephew are expressly qualified in their entirety by theforegoing. Smith & Nephew does not undertake any obligation to update or reviseany forward-looking statement contained herein to reflect any change in Smith &Nephew's expectation with regard thereto or any change in events, conditions orcircumstances on which any such statement is based. * Trademark of Smith & Nephew. Certain marks registered US Patent and TrademarkOffice. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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