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Biotech / Medical : anika research(anik)

ANIK 9.490

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Dec 24 12:59 PM EST

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To: hdl who wrote (320)	2/5/2004 10:08:14 AM
From: VIXandMore	Read Replies (1) of 328

Anika knee arthritis treatment approved in U.S. CHICAGO, Feb 5 (Reuters) - Anika Therapeutics Inc. (NasdaqNM:ANIK - News) on Thursday said it received U.S. regulatory approval for a new treatment for arthritis in the knee, a common joint condition affecting about 10 million Americans. The treatment, designed to relieve pain and stiffness and improve joint mobility, is a purified, high molecular weight form of hyaluronic acid contained in a single-use syringe. It is injected directly into the knee joint. It is indicated for patients who have not responded adequately to conservative non-drug therapy and to simple pain-killers. The product will be marketed in the United States by Ortho Biotech Products L.P., a unit of Johnson & Johnson (NYSE:JNJ - News), under the name Orthovisc. It is expected to be launched in the United States in mid-March. Anika estimates the U.S. market for treatment is $350 million. Under its marketing and distribution agreement with Ortho Biotech, Anika will receive a milestone payment for the U.S. Food and Drug Administration (News - Websites) approval of $20 million during the first quarter of 2004. The agreement also provides for potential additional payments contingent on achieving certain performance and sales threshold milestones, in addition to royalty and other fees. Orthovisc has been sold internationally since 1996, and currently is available in Canada and various European and Middle Eastern nations. About 5 percent of the world population suffers from arthritis in the knee.

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