I wonder what is going on with EU approval and Augment? An approval there will help them get their 40 million in annual revenue and at least $1.50 for these CVRs with an out side chance of 70 million in revenue for an additional $1.50. The FDA is corrupt and has competitors on their panels and in their organization and unless on is a major Pharma its hard to fight them. It would be best if not approved after panel meeting to sell the technology to the highest bidder who wants to pursue a new study. There are still over 5 years left on the CVRs so its not over until then!
From CC: "Before I discuss our new strategic priorities in more detail, I would like to provide a brief update on the status of the dispute resolution panel for Augment Bone Graft. The FDA has informed us that the panel will – is presently scheduled for the week of May 19, 2014. We look forward to making a strong case and believe we have good facts. However, as we have said in the past, we are not optimistic that we will be successful. We will continue to keep you informed through our normal communications channel."
From Seeking Alpha transcripts:
" President and Chief Executive Officer
We don’t have any reps, because the product is not approved in the U.S., it is approved in Australia and that’s through a commissioned agent there. And that business is growing very, very well, but so there is no really cost associated with commercialization, if you will, in our number, it’s more infrastructure in our Franklin, Tennessee operation.
Rich Newitter - Leerink Partners
Thanks a lot.
Matt Miksic - Piper Jaffray
Hi, thanks guys. I have one follow-up on BioMimetic and then one question on these acquisitions. And on BioMimetic, I think you said at the bottom, Lance that you are not optimistic about this meeting, I am assuming that that means that you have some mixed sort of plan in mind given those this – I don’t want to put words in your mouth but sort of the likely scenario that you don’t wrest any kind of approval out of this. We are hopeful that you can, but can you help us understand what the next out of the meeting is if it does go the way that you are expecting had no change if that is in fact what you are expecting. And then how long does that take to play out. And then as I mentioned I have one follow-up?
Bob Palmisano -
I agree with you, it would be nice if this did turn out in a positive way, it’s just the way the process works. It seems like everything is geared against us, but what we would do and I think this is – I am pretty sure 99% sure this will be a public meeting. And we should know either at the meeting or shortly thereafter what the status is. We would then, if it goes in a negative way we will then very rapidly attack the expense basis that we have in our company. And I think that Lance said that’s somewhere between $10 million to $15 million... And as I have said previously we would – we are not anticipating or entertaining I would say the idea of doing another study, so that would just be it."