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news.Allergan has entered into an agreement with a subsidiary of Covidien, under which Covidien will co-promote Allergan's Lap-Band adjustable gastric banding system to bariatric and other surgeons in the US.
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Under the multi-year agreement, which became effective on November 9, 2007, Covidien will leverage its expertise in bariatrics and utilize its surgical devices sales force to promote the Lap-Band system. Allergan will continue to deploy its own bariatric sales force and recognize revenues from the sale of the Lap-Band system.
The Lap-Band system was developed to facilitate long-term weight loss and reduce the health risks associated with severe and morbid obesity.
Robert Grant, president of Allergan Medical, a division of Allergan, said: “The alliance with Covidien is an important step in the fight against obesity. With a strong investment in targeted consumer advertising, comprehensive surgeon and referring physician education and robust reimbursement assistance, we are successfully broadening patient awareness of and access to the Lap-Band system, as evidenced by the market leadership and rapid growth of the product.”