A Service For Professionals Thursday, October 19, 2017
Contact (202) 540-8337
Company News Today
A Service For Professionals Thursday, October 19, 2017 11614 Sources 410,706,473 Articles 3,134,516 Readers
Contact (202) 540-8337

Healthcare: Kensey Nash, St. Jude Ink Supply Deal

June 28, 2010 (FinancialWire) — Kensey Nash Corp. (NASDAQ: KNSY), a regenerative medicine firm, said that it entered into a new two-year supply agreement with St. Jude Medical, Inc. (NYSE: STJ) for the period from January 1, 2011 to December 31, 2012.

The agreement provides for Kensey Nash to be the exclusive outside supplier of collagen plugs, one of the key resorbable components of the Angio-Seal Vascular Closure Device, an arterial puncture closure product.  The new agreement provides for calendar year 2011 minimum order levels equivalent to approximately 25% of current annual collagen plug sales.

Under the existing agreement that remains effective through December 31, 2010, Kensey Nash is the exclusive supplier of collagen plugs and a 30% supplier of polymer anchors.

Under the new agreement, effective January 1, 2011, Kensey Nash will not supply any polymer anchors. In fiscal year 2010 (ending June 30, 2010), collagen plug sales to St. Jude Medical are expected to be approximately $17 million and polymer anchor sales $1.9 million.  

Royalties under the Angio-Seal license agreement between Kensey Nash and St. Jude Medical are not affected by the new supply agreement, according to Kensey Nash.

Pennsylvania-based Kensey Nash is a medical device company primarily focused on regenerative medicine utilizing its proprietary collagen and synthetic polymer technology.  

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [hlthcrdp] [nwdlsldw] [btnwswntb]

Powered by EIN Presswire