Echoing words he spoke nine days ago when announcing Wright Medical would pay up to $380 million for BioMimetic Therapeutics, CEO Bob Palmisano on Tuesday said his team plans "pretty much leave it alone as best we can." That's music to the ears of the BioMimetic team in Cool Springs, who are focused on the Augment bone graft product but also are working to develop other products.
And we will continue the spending on the pipeline, probably at the same levels that current management is spending at, which is not nearly as significant as it is towards getting Augment approved. So I think we will just continue as it is. When we — there is about a year to 18 months of spend that will be covered by the cash that comes over in the acquisition from BMTI. So I think that we intend to continue down the path that they are currently on.
Check out the full presentation transcript here.