As has been previously announced, Q-Med has decided to focus on the esthetics business. Sales and marketing of Hospital Healthcare products will be done via partners and there will be no further in-house development of new products within this area. This change leads to redundancies at Q-Med’s facility in Uppsala. Despite the fact that Q-Med assesses that some of these redundancies can be absorbed by the esthetics business, approximately 50 of the co-workers in Uppsala will need to leave the company.

Negotiations will be initiated with union representatives immediately.

Q-Med continues to have a positive view of the market for the company’s products. Furthermore, Q-Med assesses that the company will return to historical profitability levels within the Esthetics product area and that the Hospital Healthcare product area will display good profitability as a result of the above measures.

Q-Med AB is a rapidly growing and profitable biotechnology/medical device company. The company develops, manufactures, markets, and sells primarily medical implants. The majority of the products are based on the company’s patented technology, NASHA™, for the production of stabilized non-animal hyaluronic acid. The product portfolio today contains: Restylane® for filling lines and folds, contouring and creating volume in the face, Macrolane™ for body contouring, Durolane™ for the treatment of osteoarthritis of the hip and knee joints, Deflux® for the treatment of vesicoureteral reflux, VUR, (a malformation of the urinary bladder) in children, and Solesta™ for the treatment of fecal incontinence. Sales are made through the company’s own subsidiaries or distributors in over 70 countries. Q Med today has just over 700 coworkers, with close to 500 at the company’s head office and production facility in Uppsala, Sweden. Q-Med AB is listed in the Mid Cap segment of the OMX Nordic Exchange in Stockholm.

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This entry was posted on Thursday, October 9th, 2008 at 9:40 am and is filed under Health care. Tags: biotechnology, fecal incontinence, osteoarthritis, profitable biotechnology/medical device, Q-Med AB, Restylane, Stockholm, Sweden, treatment of osteoarthritis, Uppsala, vesicoureteral reflux. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.