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Biotech / Medical : Biomatrix (BXM) Looking Great -- Ignore unavailable to you. Want to Upgrade?

To: Mark_H who wrote (472)	9/8/1998 10:23:00 AM
From: Richard Isaacson	Read Replies (1) \| Respond to of 569

Biomatrix Announces Medicare Reimbursement Approval for Synvisc(R) RIDGEFIELD, N.J., Sept. 8 /PRNewswire/ -- Biomatrix, Inc. (NYSE: BXM) today reported that, in conjunction with its U.S. marketing and distribution partner, Wyeth-Ayerst Laboratories (a division of American Home Products, (NYSE: AHP)), they have received Medicare reimbursement approval throughout the United States for Synvisc(R), Biomatrix' innovative treatment for osteoarthritis of the knee. Synvisc(R) received FDA clearance to market in August 1997 and was launched throughout the United States by Wyeth-Ayerst in November 1997. Over the past six months each of the 42 local Medicare carriers that encompass the 50 United States and Puerto Rico have agreed to reimburse for Synvisc as a treatment modality for osteoarthritis of the knee among the 38.6 million people enrolled in Medicare nationwide. "Attaining Medicare reimbursement for Synvisc is a major milestone that we have worked diligently towards since FDA approval. We are encouraged by the speed with which we achieved this objective, and are pleased that Synvisc will now be widely available to U.S. Medicare patients who suffer from osteoarthritis of the knee," stated Dr. Endre A. Balazs, chief executive officer and chief scientific officer of Biomatrix. Dr. Balazs continued, "Medicare reimbursement for Synvisc is especially important as many of the major health plans and private insurers look to Medicare when setting their protocols and guidelines for coverage of a therapeutic. We continue to work with our health economics specialists to ensure that Synvic is covered by all major health plans as a first line treatment for osteoarthritis of the knee." Synvisc, Biomatrix' innovative treatment for osteoarthritis of the knee, has FDA clearance to market in the US and approval to market in countries of the European Union and certain countries in South America and Asia. Through marketing and distribution agreements with a number of large multi-national pharmaceutical companies, and through its fully owned subsidiaries, Biomatrix has contracts to sell Synvisc in approximately 90 countries. Wyeth-Ayerst Laboratories has marketing rights and sells Synvisc in the US and certain European countries: Boehringer-Ingelheim in France; Rhone-Poulenc Rorer in Canada; Hoffman La Roche in Sweden and South Africa; Novartis Pharma AG in Latin America; and Bayer AG in Australia, New Zealand and certain countries in Asia. In addition, Biomatrix manufactures and sells through distributors several other viscoelastic products: Hylaform(R), for the correction of facial wrinkles and depressed scars, is marketed in 21 countries by Collagen Corp. (Nasdaq: CGEN); Gelvisc(R) Vet for the treatment of arthritis in animals; two Hylashield(R) products for the protection of the surface of the eye from noxious environmental conditions; and several polymers for the skin care industry. Biomatrix, Inc., headquartered in Ridgefield, New Jersey is an international biomedical company that develops, manufactures and commercializes elastoviscous products made from proprietary biological polymers called hylans, used in therapeutic medical applications and in skin care products. Certain statements in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, the regulatory approval process, obtaining and enforcing patents, reimbursement by private health care providers, manufacturing capabilities, product liability, and other risks detailed in Biomatrix' reports filed under the Securities Exchange Act, including Forms 1O-Q and Biomatrix' annual report on Form 1O-K for the year ended December 31, 1997. For more information on Biomatrix, please visit the Company's web site at www.biomatrix.com. Editor's note: Synvisc(R), Hylaform(R), Gelvisc(R) Vet and Hylashield(R) are registered trademarks of Biomatrix, Inc. SOURCE Biomatrix, Inc. CO: Biomatrix, Inc.; Wyeth-Ayerst Laboratories; American Home Products; Collagen Corp. ST: New Jersey IN: MTC SU: PDT 09/08/98 10:06 EDT prnewswire.com