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RIDGEFIELD, N.J., April 11, 1997 -- Biomatrix, Inc. today announced that it has received approval from the People's Republic of China to register Synvisc(R), its proprietary treatment for osteoarthritis of the knee. This approval allows Biomatrix to import and sell Synvisc as a medical device in every province in China. Biomatrix currently is negotiating a distribution agreement for this market.
Synvisc is used in a new medical treatment modality called viscosupplementation. Synvisc, an elastoviscous fluid, is injected into arthritic knee joints as a fluid prosthesis to supplement the diseased synovial fluid, with the goal of relieving pain and thereby improving joint mobility.
"Approval to market Synvisc in the People's Republic of China is a significant milestone for Biomatrix," said Dr. Endre A. Balazs, chief executive officer and chief scientific officer of Biomatrix, Inc.. "The People's Republic of China represents Biomatrix' first venture into the important and very large Asian market. We expect that Synvisc will be sold in China before the end of this year."
Internationally, Biomatrix currently markets Synvisc in Canada and in certain countries of the European Economic Area through distribution agreements and direct sales. In the United States, Biomatrix has received a recommendation from a Food and Drug Administration (FDA) Advisory Panel to approve Synvisc for marketing.
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