OLYMPUS HALTS OP-1 EFFORT (Orthopedics This Week)
Olympus Biotech Corporation has put a fork into its efforts to commercialize OP-1.
After paying $60 million to Stryker Corporation in 2010 for the biologic product that has snake-bitten everyone who has attempted to commercialize the protein, Olympus announced on June 18, 2014 that it will close its 120-employee manufacturing plant in West Lebanon, New Hampshire, because it has been unable to find a buyer for the past four months.
OP-1 was a disaster for Stryker as the company failed to get FDA approval for the product, paid millions in fines f...
