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  • Coloplast: Financial Statement Conference Call
  • 05/05/2015

  •          On May 5th, 2015, there was a Coloplast Financial Statement Conference Call, with Mr. Lars Rasmussen, CEO of Coloplast, as the speaker. There had been discussion with the safty issues with Devon Medical's NPWT products. And the patient safety had been emphasized by Lars Rasmussen.

             Lars Rasmussen, CEO of Coloplast
             Anders Lonning-Skovgaard, CFO of Coloplast
             Investor Relation Team of Coloplast

             Lars Rasmussen: I should mention that our commercial activities with Devon Medical have been terminated due to problems with product safety with the Extricare products. Coloplast is still committed to negative wound pressure, but we need to take a step back and re-think our efforts within this area.
             Alex Kleban: On Devon, do we have any product liability risk that we need to worry about on this one, or is this really just a situation of initial pilot, not what you expected particularly from the safety side and then you decided to recall it?
             Lars Rasmussen: That's hard for me to comment on. We have had costs on running this pilot. We are quite disappointed that when we point to safety issues with the product that the supplier do not wish to help out on that. So there are some – there is a legal side to this which we'll have to see how that comes out.
             Scott Bardo: I just wanted to explore a little bit further how you see that sustainably trending. I know historically one of the reasons for moving into negative pressure wound therapy was to enable you to get into some bigger tender contracts. Obviously, that's taken a bit of a setback today, so do you think that that will impact your wound care growth in the future? Perhaps some comments around that and potentially what you see as the financial impact from the termination of the Devon Medical agreement.
             Lars Rasmussen: You are absolutely right that if we also were holding the negative pressure portfolio, we would have access to more tenders, and there are a lot of tenders inside of wound care. And that's the whole idea why we wanted to get into negative pressure. So I'm very sorry that we are not in a situation where we could make this cooperation work, but patient safety has to come first. On the Devon legal side, well, it's very hard for me to say. I'm very disappointed that the moment we point to safety issues and things which are not big things, but things that definitely need to be fixed, that they are backing out. But patient safety comes first.


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