IOV - A NEW START FOR THE PHOENIX

I would suggest that the sales figures quoted are very conservative.
My conversations with early adopter surgeons indicate that there is a huge market for this product,due to its inherent advantages, once surgeons are convinced of both the merits of Adept specifically and of adhesions prevention generally.

This requires education through intelligent marketing and in Baxter IOV have chosen its partner very wisely in that regard.

As for Paul Capital sharing in the royalties I understand that the agreement which enables it to do so expires in 2010 following which all royalties accrue to IOV consequently they only share in the early years ie before the royalties have built up to any great extent.

I understand that PC do not share in IOV's Adept signing fees/milestones which I suspect will be substantial.