More from Drees
March 2, 1998
Baxter international Inc
The Wall Street Journal if February 25, 1998, reported that Baxter International Inc. agreed to acquire Somatogen Inc. for 190,000,000 in stock and up to 42,000,000 paid in cash over nine (9) year period. Baxter has been working on hemoglobin based blood substitutes for some years, as has Somatogen, only using RDNA. Baxter is not interested in Somatogen's first generation blood substitute, which Eli Lily walked away from in March 1997, but in Somatogen's other future blood substitutes.
This tells us that Baxter's first generation product does not work, because of high blood pressure, and requires more outdated blood than is available. Somatogen's first generation product also does not work, so there will be a long delay until both companies have a product, that works, is safe, has raw material available, can pass the FDA, and can be made at a reasonable manufacturing and capital cost, while dealing with huge water and effluent problems.
We have been saying this for a long time.. This press release says that Baxter and Somatogen are a long way from a successful product launch.
Thomas C. Drees, Ph.D.
Prospector ( WOW! that is a mouthful)
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