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Biotech / Medical : Eye Laser Industry - VISX and Summit BEAM Info
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To: AgAuUSA who wrote (33)8/29/1996 3:47:00 PM
From: Daryl Gresham   of 178
 
The agreement was to split royalties collected on each procedure, not on the sale of machines. When a procedure is done the doctor is charged $250 of which 60% is supposed to go to VISX and 40% to Summit. VISX wants its share of these royalties on the machines that Summit has already sold. Summit had the initial jump on VISX because of earlier FDA approval but VISX is now the leader. Appears to be more shady dealings on the part of Summit.
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