It read like this one.
I put NAIC into Yahoo and got back Native American Intertribal Councils as the first hit.
But I do like this stock and I am gld to see the recent tremendous relative strength [what ever the reason!]
Biomatrix to Exhibit at NAIC National Congress & Expo
NAIC NATIONAL CONGRESS & EXPO, NASHVILLE, Tenn., Sept. 15 /PRNewswire/ -- Biomatrix, Inc. is the worldwide leader in the development and manufacture of viscoelastic products made from proprietary biological polymers called hylans that are used in therapeutic medical applications and in skin care products.
The company's lead product, Synvisc®, is a novel, non-drug therapeutic used to provide long-term pain relief for those who suffer from osteoarthritic knee pain. Synvisc is marketed by Wyeth-Ayerst Laboratories in the US and certain European and Middle Eastern countries; Boehringer-Ingelheim in France; Rhone-Poulenc Rorer in Canada; F. Hoffmann-La Roche Ltd. in Sweden and South Africa; Novartis Pharma AG throughout Latin America; and Bayer AG in Australia, New Zealand and certain countries in Asia.
Biomatrix developed and manufactures several other viscoelastic medical therapeutics. Hylaform® is an injectable viscoelastic hylan gel treatment for the correction of facial wrinkles and depressed scars. It is marketed in 23 countries by Collagen Aesthetics, Inc. (now Inamed Corp.) (OTC Bulletin Board: IMDC - news). Gelvisc® Vet is an elastoviscous hylan product for the treatment of arthritis in veterinary medicine that is distributed by Boehringer-Ingelheim in France and Equinord in Sweden. Biomatrix' Hylashield® products are viscoelastic therapeutics for the protection of the surface of the eye from noxious environmental conditions and are distributed in Canada by I-MED Pharma, Inc. The company also manufactures nine patented elastoviscous intermediates for the skin care industry.
Biomatrix has recorded three consecutive years of profitability, and ten consecutive quarters of profitability. As of June 30, 1999, the company had approximately $22 million in cash and $63.4 million in shareholders' equity.
Biomatrix' strategy to build several core assets on the strength of its lead product, Synvisc, has proven successful. Moving forward, the company's next goal will be to continue to advance its pipeline of future products toward commercialization and continue to build on its leadership position in the development and commercialization of viscoelastic medical therapeutics.
SOURCE: Biomatrix, Inc.
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