13 WTHR - Indianapolis News |Osiris gets $15M milestone payment from NuVasive

Osiris gets $15M milestone payment from NuVasive

Posted: Updated:

NEW YORK (AP) - Osiris Therapeutics Inc. said Tuesday it received a $15 million payment from NuVasive Inc., the final milestone fee linked to the sale of Osiris' bone graft stem cell business.

San Diego-based NuVasive agreed to buy the Osteocel business in May 2008 for as much as $85 million. Thelatest payment was triggered when NuVasive reached $35 million in total Osteocel revenue.

Shares of Osiris, which is headquartered in Columbia, Md., fell 33 cents, or 5.5 percent, to close at $5.72 on Tuesday, having hit a 52-week low of $5.35 earlier in the session. NuVasive stock rose 65 cents to finish at $35.70.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2002 - 2010 WorldNow and WTHR. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.It is the policy of The Dispatch Broadcast Group to provide equal employment opportunity to all qualified individuals without regard to their race, color, religion, national origin, age, sex, marital status, disability, military status, citizenship or any other legally-protected status in accordance with applicable local, state and federal law. Jobs at WTHR EEO Public File Report