Associated Press reported yesterday that Allergan Inc., which makes Botox and sells surgical weight-loss devices, will co-promote its Lap-Band product with health care products provider Covidien Ltd.
The Lap-Band is an adjustable gastric band, a device surgically implanted around the stomach to help severely obese patients lose weight by forcibly limiting food intake. The procedure is an alternative to more invasive gastric bypass surgery, commonly known as stomach stapling.
Under the multi-year agreement, which became effective Nov. 9, Covidien will co-promote Allergan's Lap-Band to bariatric and other surgeons in the United States. Pembroke, Bermuda-based Covidien makes medical devices and pharmaceutical products.
Covidien's sales representatives will help educate and train surgeons on the Lap-Band procedure, which costs roughly $12,000 to $20,000. Irvine, Calif.-based Allergan said it will continue to recognize revenue from the Lap-Band. Other financial terms of the deal weren't disclosed.
Allergan acquired the Lap-Band with its 2006 purchase of Inamed.
In late September, the Food and Drug Administration cleared Johnson & Johnson's Realize gastric band, effectively ending Allergan's dominance in the adjustable gastric banding market.
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