J&J’S LIFESCAN BOOSTS UNIVERSAL BIOSENSORS’ OUTPUT
December 17th 2008 08:43
Monday December 15, 2008
Daily news on ASX-listed biotechnology companies
* ASX, BIOTECHS UP: POLARTECHNICS UP 38.5%, LIVING CELL DOWN 12%
* DR MERVYN JACOBSON FACES 319 CHARGES
* J&J’S LIFESCAN BOOSTS UNIVERSAL BIOSENSORS’ OUTPUT
* ELANCO SUBMITS ACRUX ANIMAL TREATMENT TO US REGULATOR
* SELECT VACCINES TIGHTENS BELTS, DUMPS ANAVAX FOR HEP C
* MEDICAL THERAPIES CONVERTIBLE NOTE CONDITIONS; FUNDING
* NORWOOD ABBEY CAN DRAW DOWN $250k
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
UNIVERSAL BIOSENSORS
Universal Biosensors has expanded its relationship with Johnson & Johnson’s Lifescan Inc assisting Lifescan establish manufacturing blood glucose sensors strips.
Universal Biosensors said Lifescan would have its own separate manufacturing plant for the sensor strips.
Universal Biosensors’ corporate headquarters in the Melbourne suburb of Rowville has a state-of-the-art sensor strip manufacturing plant capable of producing 750 million strips per annum.
In the US the strips retail for about 50 US cents.
The company said the Lifescan manufacturing line would increase the overall manufacturing capacity for the strips which are expected to be launched with the blood glucose diagnostic units in 2009.
Universal Biosensors said it would be paid $US2 million in the first quarter of 2009 for providing these manufacturing process support services.
Universal Biosensors said it and Lifescan signed a master services and supply agreement in October 2007, which was structured as an umbrella agreement for “a series of additional arrangements for the supply by [Universal Biosensors] of additional services and products in the field of blood glucose monitoring”.
Universal Biosensors chief executive officer Mark Morrisson said Lifescan’s “commitment to additional glucose sensor strip capacity at this time is obviously enormously pleasing to us”.
He said that in addition to the fees from directly manufacturing sensor strips, “we will also receive a service fee for each of these blood glucose sensor strips sold, whether those strips are manufactured by [Universal Biosensors] or by Lifescan”.
Mr Morrisson said Universal Biosensors was continuing discussions with Lifescan over a number of new agreements for the supply of additional services and products.
Universal Biosensors was up one cent or 1.82 percent to 56 cents.
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
| 46 |
| Vote |
Add To: 
subscribe to this blog