Angiotech Pharmaceuticals Inc. (ANPI)

Angiotech Pharmaceuticals, Inc. provides technologies and medical products for local diseases and complications associated with medical device implants, surgical interventions, and acute injury in the United States and internationally. Its Pharmaceutical Technologies segment provides technologies that improve the performance of medical devices and the surgical procedures. It also establishes product development and marketing partnerships with various medical device, pharmaceutical, or biomaterials companies. This segment licenses its proprietary paclitaxel technology to the company's partners, as well as sells TAXUS drug-eluting stents. The company's Medical Products segment manufactures a range of single-use specialty medical devices, with products focusing primarily on interventional radiology, biopsy, general surgery, aesthetic surgery, and ophthalmology. It also offers finished medical devices and medical device components for third party medical device manufacturers and marketers. This segment's products include SKATER drainage catheters used to drain fluid from wounds, infectious tissues, or surgical sites; EnSnare retrieval devices used for retrieving devices from vascular structures, organs, or ducts; V+Pad hemostatic pads for managing bleeding wounds; disposable and re-usable soft tissue biopsy needles; BioPince full core biopsy devices; T-Lock bone marrow biopsy devices; HemoStream dialysis catheters; BioSeal lung biopsy systems that prevents air leaks in patients having lung biopsies; and other products, including fixation pins, tunneling stylets and surgical tunnelers, and isotope seed spacers and needles for prostate cancer treatment. Angiotech Pharmaceuticals also offers general surgery products, such as silk and polyester braided and monofilament suture materials; drilled end and channel Needles; ePTFE synthetic vascular grafts; and surgical blades for cataract surgery. The company was founded in 1989 and is headquartered in Vancouver, Canada.

For the nine months ended 30 September 2006, Angiotech Pharmaceuticals, Inc.'s revenues increased 42% to $221.8M. Net income from continuing operation before accounting change decreased 66% to $17.2M. Revenues reflect an increase in medical products sales driven by acquisition of AMI. Net income was offset by higher research & development expense, increased depreciation & amortization expense and the presence of interest expense.