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SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September 15, 1997
Atrix Laboratories, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-18231 84-1043826
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(State of (Commission (IRS Employer
incorporation) File Number) Identification No.)
2579 Midpoint Drive, Fort Collins, Colorado 80525
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (970) 482-5868
Not Applicable
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(Former Name or Former Address, if Change Since Last Report)
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Item 5. Other Events.
See the Press Release attached hereto as Exhibit 20.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
20 Press Release dated September 15, 1997
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ATRIX LABORATORIES, INC.
Date: September 15, 1997 By: /s/ Brian Richmond
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Brian Richmond, Corporate Controller
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EXHIBIT INDEX
Exhibit No. Exhibit Description
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20 Press Release dated September 15, 1997
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Exhibit 20
FOR IMMEDIATE RELEASE:
COMPANY CONTACTS:
John E. Urheim
Chief Executive Officer
Atrix Laboratories, Inc.
(970) 482-5868
www.atrixlabs.com
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Investor Relations Contacts:
Keith Lippert
Lippert/Helishorn & Associates
(212) 838-3777
@lhai.com
BLOCK DRUG CORPORATION TO MARKET ATRIDOX(TM) PERIODONTAL THERAPY IN CANADA
ATRIX TO PURSUE OTHER MARKETING OPPORTUNITIES FOR ATRIDOX(TM) IN EUROPE
FORT COLLINS, COLO., SEPTEMBER 15, 1997 - ATRIX LABORATORIES, INC. (NASDAQ:
ATRX), announced today that its strategic partner, Block Drug Corporation
(Nasdaq: BLOCA), has elected to exercise its option to market ATRIDOX(TM), a
subgingival anti-infective treatment for periodontal disease, in Canada. The
company also announced that, after jointly reviewing Block's European marketing
operations, it was agreed Atrix would pursue other distribution channels in
Europe.
"We are pleased with Block's decision to add ATRIDOX(TM) to the
growing list of serious dentistry products they are marketing in Canada," said
John Urheim, vice chairman and chief executive officer of Atrix. "Today's
announcement follows Block's Canadian launch last week of Atrix's first
product, the ATRISORB(R) Barrier for Guided Tissue Regeneration."
Peter Mann, President of Block U.S. said, "Our deal with Atrix in the
U.S. and Canada is an important element in our mission of becoming the major
marketer of high technology products to the dental profession."
With regard to Europe, Block's decision to let its option lapse was
based on a joint analysis of Block's European marketing operations which
concluded that its affiliates were not in a position to take full advantage of
the Atrix product line at this time. The first product, ATRISORB(R) Barrier
for Guided Tissue Regeneration ("GTR"), which received FDA approval in March,
1996, is currently marketed in the U.S. and 16 foreign countries. ATRIDOX(TM),
the
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subject of a New Drug Application submitted in March, 1997, is expected to be
launched it he U.S. in 1998.
"In light of the decision not to proceed in Europe, Atrix is
evaluating a number of distribution alternatives, including establishing our
own European detail force, entering into a marketing alliance with a major
European company, establishing a series of independent dental distributors, or
some combination of these approaches," said Urheim.
In December, 1996, Atrix entered into an agreement with Block Drug
Corporation which includes potential milestone payments in excess of $50
million to Atrix over the next three to five years. Atrix will also receive
manufacturing margins and royalties on sales of North America marketing rights
to the first three Atrix products for the treatment of periodontal disease.
The company reported its first milestone payment of $7 million during the first
quarter of 1997.
Headquartered in Jersey City, New Jersey, Block Drug Company, Inc., is
an international marketer and manufacturer of denture care products, dental
products, proprietary over-the-counter medicines and specialty household
products. Among the Company's well-known oral healthcare brands are the
Polident(R) line of denture cleaners, the Sensodyne(R) line of desensitizing
toothpastes, and Poli-Grip(R) brand denture adhesives.
Atrix Laboratories, Inc. develops, manufactures and markets dental,
medical and veterinary products based on its proprietary ATRIGEL(R)
biodegradable polymeric technology.
Forward-looking statements in the release involve a number of risks
and uncertainties including, but not limited to, product demand, pricing,
market acceptance, changing economic conditions, risks in product and
technology development, the effect of the company's accounting policies and
other risk factors detailed in the company's SEC filings.
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