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news.Anika Therapeutics, a developer of therapeutic products for tissue protection, healing and repair, has terminated its US distribution contract with Artes Medical for Elevess, its injectable dermal filler that reduces the appearance of lines and wrinkles on the face.
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This follows Artes Medical’s disclosure that it has initiated a significant workforce reduction, and that it has not been able to address its anticipated liquidity issues.
Anika said that it values the customers for the product and will continue efforts on its own to service these customers while actively seeking a new partner for the US distribution of Elevess, which was the first hyaluronic acid-based dermal filler approved by the FDA to incorporate the anesthetic lidocaine to improve patient comfort.
In addition, Anika continues to focus on signing international distributors for Elevess. In the third quarter of 2008, the company announced exclusive agreements with three new dermatology-focused distributors to market Elevess in Mexico, Chile, Peru and South Korea. The agreements provide exclusive distribution rights for Elevess in each of these growing markets.
Charles Sherwood, CEO of Anika: said: While this development with Artes is disappointing, there remain enthusiastic supporters of the product and we will continue to develop this market support. It should also be kept in mind that the other elements of our business, including the joint health area which we have stated is our primary growth driver, are performing well.