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Guilford/Gliatech

Executive Summary

Companies terminate merger agreement following FDA's Aug. 23 inspection report finding inconsistencies in Gliatech's study data for the anti-adhesion gel product Adcon-L. Guilford said Aug. 28 that "in light of Gliatech's need to focus on certain of its ongoing regulatory and product development matters," the parties mutually agreed to end the proposed merger. The $207 mil. merger was announced May 30 (1"The Pink Sheet" June 5, p. 17)

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