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Olympus Biomaterial to Take over Sumitomo's Bone Replacement Material Business
 

Tokyo, May 11, 2005 (JCN) - On May 11, Olympus Biomaterial, Sumitomo Osaka Cement (TSE: 5232) and Sumitomo Pharmaceuticals jointly announced that they have reached a basic agreement on a forthcoming transfer of bone replacement material business currently co-conducted by Sumitomo Osaka Cement and Sumitomo Pharmaceuticals. Olympus Biomaterial is scheduled to take over Sumitomo's bone replacement material business by the end of June.

The three companies will proceed with further discussions on details. With this transfer, Olympus Biomaterial aims to reinforce its bone replacement material operation and move into the field of neurosurgery and plastic surgery.

Currently, Olympus Biomaterial is distributing OSferin, a bone replacement material for orthopedic surgery.

By Aki Tsukioka Contributor

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