Healthpoint Biotherapeutics to Assume Smith & Nephew Inc. Name
Published: Sep 26, 2013
FORT WORTH, Texas, Sept. 25, 2013 /PRNewswire/ -- Healthpoint Biotherapeutics today announced it will assume the Smith & Nephew (LSE: SN, NYSE: SNN) corporate identity as part of its ongoing integration into the global medical technology business. Smith & Nephew acquired Healthpoint Biotherapeutics in December 2012.
"Assuming the Smith & Nephew name reflects the evolution of our organization as a biotherapeutic leader now operating within a multinational organization," said Rob Bancroft, President of Smith & Nephew Biotherapeutics. "As well as continuing to market our existing products such as SANTYL*, we will retain our focus on the development and commercialization of novel, cost-effective biopharmaceuticals for dermal repair and regeneration."
Bioactives are the fastest growing area of wound care, illustrating how greater understanding of wound biology is driving the development of new biopharmaceuticals designed to stimulate the body's own regenerative processes.
Smith & Nephew Biotherapeutics' diversified product portfolio currently serves large and growing markets that continue to expand, given current demographic and epidemiological trends. The business is well positioned to benefit from this market growth with its specialized sales force, strong performance of best-in-class products, award winning educational resources and future prospects borne of a strategically directed pipeline.
About Chronic Wounds
Most wounds proceed toward healing in a timely, organized manner; however, for many wounds the healing process is slowed, less well organized and may even come to a halt altogether, leading to a chronic wound. Chronic wounds are often derivative of another illness or condition such as diabetes, obesity, peripheral vascular disease and immobility. These woundsincluding diabetic, venous, arterial and pressure ulcersare considered inherently difficult-to-heal and at risk of becoming chronic due to the underlying disease state or condition of the individual interfering with the normal healing process. Millions of people currently suffer from these types of wounds, and many more are likely to be affected in the future as the prevalence of the implicated underlying disease states and conditions continues to rise.
An estimated $5-7 billion is spent each year on the treatment of chronic wounds in the United States alone, and these costs are increasing at annual rate of 7-10%. Despite these expenditures and clinical efforts, many of these wounds fail to heal in a timely manner, increasing the risk of many undesirable consequences and complications such as local infection (including cellulitis and abscesses), bacteremia and sepsis, pain, osteomyelitis, dermatitis, possible malignancy, amputation and even death. The longer it takes for a wound to heal, the greater the likelihood of complications.
The factors that cause wounds to fail to heal are still the subject on ongoing research. However, the science is evolving rapidly and suggests new bioactive technologies will be the next stage of innovation in turning the sometimes elusive process of healing into a dependable reality.
About Smith & Nephew Biotherapeutics
Smith & Nephew Biotherapeutics' research and development strategy is centered around therapeutic enzymes, biologics and next-generation cell- and cell-matrix based therapies for the prevention and treatment of acute, chronic and burn-related wounds. Currently marketed products include Collagenase SANTYL* Ointment, OASIS* Wound Matrix, OASIS* Ultra Tri-Layer Matrix and REGRANEX* (becaplermin) Gel 0.01%. Smith & Nephew is also committed to advancing the care and treatment of wounds through support of industry leading continuing education from THE WOUND INSTITUTE®. To learn more about this comprehensive and award winning educational resource, please visit TheWoundInstitute.com.
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma, Smith & Nephew has around 11,000 employees and a presence in more than 90 countries. Annual sales in 2012 were more than $4.1 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith & Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payors and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; strategic actions, including acquisitions and dispositions, our success in integrating acquired businesses, and disruption that may result from changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20-F, for a discussion of certain of these factors.
Any forward-looking statement is based on information available to Smith & Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith & Nephew are qualified by this caution. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith & Nephew's expectations.
* Trademark of Smith & Nephew. Certain marks registered US Patent and Trademark Office.
SOURCE Smith & Nephew
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