Angiotech Pharmaceuticals, Inc. develops, manufactures, and markets medical device products and technologies primarily in the areas of interventional oncology, wound closure, and ophthalmology worldwide. The company’s Medical Device Technologies segment offers single use medical device products and precision manufactured medical device components. This segment’s products include BioPince full core biopsy devices for obtaining tissue samples from patients for analysis and diagnosis of disease; Tru-Core and SuperCore disposable biopsy instruments that are designed to address various diagnostic procedures; T-Lok bone marrow biopsy devices, which are used for collecting bone marrow; and SKATER d...
355 Burrard Street
Vancouver, BC V6C 2G8
Founded in 1989
K. Thomas Bailey Steps Down to Angiotech Pharmaceuticals Inc.'s Board of Directors
Feb 23 15
Angiotech Pharmaceuticals Inc. announced that K. Thomas Bailey has stepped down from the company's board of directors effective immediately.
Angiotech Pharmaceuticals, Inc. Appoints John R. Barr as Chief Executive Officer
Oct 9 14
Angiotech Pharmaceuticals Inc. announced that its Board of Directors has appointed John R. Barr as Chief Executive Officer. Mr. Barr brings over 35 years of medical device and operational leadership experience. Mr. Barr most recently served as Executive Vice President and President Global Surgical at Bausch + Lomb immediately prior to its acquisition by Valeant Pharmaceuticals in 2013.
Angiotech Pharmaceuticals, Inc. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2013
Mar 21 14
Angiotech Pharmaceuticals Inc. reported financial results for the fourth quarter and full year ended December 31, 2013. For the year, the company reported product revenue of USD 128.8 million, an increase of 5% from USD 123.1 million recorded in 2012. The year-over-year improvement in sales was primarily driven by strong demand for its core suture lines and its microsurgical knives in the US and Asia and continued growth in the overall sales of its various knotless suture product lines. Royalty revenue for 2013 was USD 5.5 million, down 64% from USD 15.1 million recorded in 2012. Adjusted EBITDA for the year ended December 31, 2013 was USD 36.7 million, a reduction of 19% from USD 45.1 million recorded in 2012.
For the quarter, the company’s product revenue was USD 30.2 million, down 6% from USD 32.1 million in the fourth quarter of 2012. Quarter-over-quarter results were impacted primarily by buying patterns of certain of its OEM and private label customers, including Ethicon, its sole private label customer for its knotless suture product lines, and competitive pressure in the U.S. for direct sales of Quill. Royalty revenue was USD 1.6 million, down 47% from USD 3.0 million in the fourth quarter of 2012. Compared to 2013, royalties were also down in both fourth quarter and the year in 2013 compared to last year due to a reversal of royalties earned in prior periods from Cook associated with their voluntary recall of Zilver PTX drug-eluting stents in April 2013. Adjusted EBITDA was USD 6.9 million, down 41% from USD 11.7 million in the fourth quarter of 2012.