ANGIOTECH ACQUIRES EDWARDS' LIFESPAN VASCULAR GRAFT PRODUCT LINE

Angiotech Pharmaceuticals has completed its acquisition of the Lifespan ePTFE vascular graft business from Edwards Lifesciences for $14 million.

Under the agreement, Edwards will continue to market and sell the existing Lifespan product line for up to five years. Edwards also will be the exclusive distributor of Angiotech's Vascular Wrap paclitaxel-eluting mesh product, packaged in combination with Lifespan vascular grafts, in the EU for up to two years after receiving European regulatory approval of the Vascular Wrap product, Angiotech said.

The agreement allows Angiotech to retain marketing and distribution rights to any and all Vascular Wrap paclitaxel-eluting mesh related products in the U.S., as well as coexclusive marketing and distribution rights to the Lifespan product line in the U.S.