Osteotech Reports Third Quarter 2009 Financi...( EATONTOWN N.J. Nov. 5 /- Osteotech In...),Health

EATONTOWN, N.J., Nov. 5 /PRNewswire-FirstCall/ -- Osteotech, Inc. (Nasdaq: OSTE), a leader in the emerging field of biologic products for regenerative healing, today reported financial results for the third quarter ended September 30, 2009.

"During the third quarter of 2009, our focus was on the release of our three new biologic products MagniFuse(TM) Bone Graft, FacetLinx(TM) Fusion Technology and Plexur M® Innovative Grafting," said Sam Owusu-Akyaw, President and Chief Executive Officer of Osteotech. "All of these products have generated excitement among surgeons and our sales agencies. We have received very positive feedback from our surgeon customers and believe these products are well-positioned to become market leaders. Based upon the dynamic feedback we've received to date, we made additional and necessary enhancements to these product lines during the third quarter of 2009 incurring incremental costs and expenses of approximately $.4 million. We are focused on learning from the challenges associated with our previous product launches and working to ensure we can be responsive to the market's needs and flexible as new opportunities arise. We plan to continue to invest in these new products during the balance of 2009 because our future growth and profitability will be driven by our ability to be successful with the releases of these new and differentiated biologics. We feel confident we are taking the steps necessary to successfully position our new biologics in the procedure-specific markets they are designed to serve, although the required investments will impact our 2009 revenue and bottom line expectations."

"We have made notable progress in executing our product development and launch strategies throughout 2009, but we have also faced considerable challenges", continued Mr. Owusu-Akyaw. "Our domestic base
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