Medisys axes Smiths after syringe bust-up
Saturday 27 September 2003
The medical devices maker Medisys has sacked Smiths Group as US marketing partner for its safety syringe, after Smiths' chief executive said he had "almost given up" on the product.
The comments by Keith Butler-Wheelhouse, made to The Independent and reported on Thursday, led to a breakdown in the relationship between the two companies.
Medisys said yesterday it was terminating the 18-month-old agreement with Smiths, and analysts believe it will now be months before the product is launched. Medisys shares fell a further 15 per cent to 12.75p.
The company said it would make a further announcement "once it has formalised its alternative plans for the commercialisation and distribution of the Futura Safety Syringe". It could decide to try to market the product itself or appoint a new partner.
Smiths refused to comment on the debacle yesterday but it is understood to be surprised by Medisys' decision. Smiths already sells two of its own safety syringes in the US, although the Futura product - whose needle is pulled back inside the syringe with a rubber band to stop hospital staff pricking themselves - is a more advanced design.
The two companies are in dispute over a $1.95m (£1.2m) milestone payment that Smiths says is not due because the Futura syringe did not pass last-minute tests in hospitals.
Futura is proving difficult for doctors and nurses to operate, with many cases of misfiring being reported. Medisys is conducting further tests of its own and will review the data at the end of next month.
- 1 Windows 10: man updates PC, wakes up to find porn slideshow on repeat
- 2 The 'world's most beautiful vagina' has been debunked by science
- 3 John Green schools morning show hosts after awkward interview with Cara Delevingne
- 4 Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
- 5 Doctors declare war on Jeremy Hunt over weekend working 'myths' amid plan for seven day NHS
Whoopi Goldberg tells Cara Delevingne to suck it up: 'She's not famous. I'M famous'
John Green schools morning show hosts after awkward interview with Cara Delevingne
Jack the Ripper's final victim set to be exhumed following new theory on the killer's identity
Supermodel Gisele Bundchen mocked for wearing a burka to avoid being seen visiting plastic surgeon in Paris
Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: This is an exciting opportunity...
£13000 - £15000 per annum: Recruitment Genius: Are you passionate about custom...
£22000 - £25000 per annum: Recruitment Genius: Main purpose: Under the directi...
£35000 - £37000 per annum + benefits : Ashdown Group: Contracts Manager - City...