Purchasing Pact Will Bring Cutting-Edge Prostate Cancer Treatment to Over
1,800 Hospitals and Healthcare Sites Across The United States
ST. LOUIS, Aug. 1 /PRNewswire/ -- Mallinckrodt Inc. (NYSE: MKG) announced
today that it has agreed to offer ProstaSeed(TM) (a trademark of UroCor, Inc.)
I-125 radioactive sources for the treatment of prostate cancer to the
hospitals and healthcare systems that buy supplies through Premier Purchasing
Partners, L.P., the group purchasing arm of Premier, Inc. Premier is a
strategic alliance of approximately 215 independent, not-for-profit health
systems across 50 states. The dual source agreement is effective August 1,
2000.
ProstaSeed sources are small, radioactive pellets that are implanted under
ultrasound guidance to destroy cancerous tumors in a patient's prostate. This
treatment, called brachytherapy, is increasingly selected by early-stage
prostate cancer patients because it does not dictate removal of the organ,
which can result in side effects such as impotence and incontinence.
Mallinckrodt is collaborating with Oklahoma City-based UroCor, Inc. to
market and distribute ProstaSeed. Recently commercialized, ProstaSeed sources
have already been implanted in patients and yielded positive results.
"Our long-term corporate partnership with Premier has enabled early
ProstaSeed evaluations to proceed smoothly and successfully," said C. Ray
Holman, chairman and chief executive officer of Mallinckrodt. "We are
delighted once again to be able to expand our relationship with Premier owners
and affiliates."
Mallinckrodt is poised to play a pivotal role in this emerging market.
Approximately 200,000 new cases of prostate cancer are diagnosed in the United
States each year, and about 60 percent of these are potentially treatable by
brachytherapy. Seeds for a single procedure typically cost about $4,000 --
far less than the cost of surgery. The current U.S. market for all such seed
implants is approximately $150 million annually.
Bradley J. Fercho, president of Mallinckrodt's Imaging Group, said, "The
ProstaSeed agreement with Premier is another step in the growth initiative we
are pursuing in our Imaging business. This agreement enables Mallinckrodt to
leverage our strength in the hospital markets and in radiopharmaceuticals and
helps Premier provide even better healthcare for patients and even greater
value for physicians and other medical professionals."
About Premier, Inc.
Premier, Inc. is a strategic alliance of more than 200 not-for-profit
hospitals and healthcare systems across the country. Together, they comprise
957 healthcare facilities nationwide and are affiliated with more than 900
others. Premier provides hospitals and healthcare systems with products and
services designed to maximize quality and safety, reduce unnecessary costs,
manage technology, and promote a continuum of care. The organization
maintains offices in Charlotte, N.C.; San Diego, Calif.; Chicago, Ill.; and
Washington, D.C. For more information about Premier, visit
http://www.premierinc.com .
About Mallinckrodt Inc.
Mallinckrodt Inc. is a global manufacturer and marketer of specialty
medical products designed to sustain breathing, diagnose disease and relieve
pain. Named one of America's most admired medical products and equipment
companies by Fortune magazine, Mallinckrodt does business in more than 100
countries. In fiscal 1999, combined net sales were $2.6 billion for
Mallinckrodt's respiratory, imaging and pharmaceutical product lines. Based
in St. Louis, Missouri, Mallinckrodt's website address is
http://www.mallinckrodt.com .
This news release contains forward-looking statements that involve risks
and uncertainties. These statements are based on current expectations; actual
results may differ materially. Among the factors that could cause actual
results to differ materially from those projected are the following: the
effect of business and economic conditions; the impact of competitive products
and continued pressure on prices realized by the company for its products;
constraints on supplies of raw materials used in manufacturing certain of the
company's products; capacity constraints limiting the production of certain
products; difficulties or delays in the development, production, testing, and
marketing of products; difficulties or delays in receiving required
governmental or regulatory approvals; market acceptance issues, including the
failure of products to generate anticipated sales levels; the costs and
effects of legal and administrative proceedings, including environmental
proceedings and patent disputes involving the company; and the risk factors
reported from time to time in the company's SEC reports. The company
undertakes no obligation to update any forward-looking statements as a result
of future events or developments.
CONTACT: Media, Barbara Abbett, 314-654-5230, e-mail,
barbara.abbett@mkg.com, or Investors, Robert Martsching, 314-654-3190, e-mail,
Invest@mkg.com, both of Mallinckrodt.
SOURCE Mallinckrodt Inc.
 back to top
Related links:
http://www.mallinckrodt.com
Company News On-Call:
http://www.prnewswire.com/comp/440950.html or fax,
800-758-5804, ext. 440950
CONTACT:
Media, Barbara Abbett, 314-654-5230, e-mail,
barbara.abbett@mkg.com, or Investors, Robert Martsching,
314-654-3190, e-mail, Invest@mkg.com, both of Mallinckrodt
|
