Luther Medical in Contract Negotiations: Tustin-based Luther...

Luther Medical in Contract Negotiations: Tustin-based Luther Medical Products Inc., which designs and manufactures specialized catheters, announced that it has entered into negotiations with Pharmacia Deltec Inc. to develop and distribute two of Pharmacia’s catheters. Luther said the contract is worth $2 million initially in fees for distribution rights, plus at least $700,000 in sales revenue in each of the first two years of the multi-year contract. The company said it expects a final agreement within 30 days.