Document:

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                                                                   EXHIBIT 10.46

*Confidential portions have been omitted and filed separately with the
 Commission.

                                SUPPLY AGREEMENT

     THIS AGREEMENT is made as of the 7th day of February 1997 by and between
BIOMATRIX, INC., a Delaware corporation, having its principal office at 65
Railroad Avenue, Ridgefield, New Jersey 07657, U.S.A. ("Biomatrix") and American
Home Products Corporation, a Delaware corporation having its principal office at
Five Giralda Farms, Madison, New Jersey 07940, U.S.A, acting on behalf of itself
and its unincorporated and wholly-owned Wyeth-Ayerst Laboratories division
("Wyeth").

     WHEREAS, Biomatrix and Wyeth have entered into a certain License Agreement
dated as of the 7th day of February 1997 with respect to Products (as
hereinafter defined) in the United States of America and its possessions (as
amended from time to time, the "US Agreement");

     WHEREAS, Biomatrix and Wyeth have entered into a certain International
License Agreement dated as of the 7th day of February 1997 with respect to
Products in certain countries in Europe and the Middle East (as amended from
time to time, the "International Agreement" and, together with the US Agreement,
the "License Agreements"); and

     WHEREAS, Wyeth desires to purchase from Biomatrix Wyeth's requirements of
the Products in the Territory (as defined below), and Biomatrix is willing to
supply such requirements upon the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the premises and of the mutual
covenants of the parties hereto, it is hereby agreed as follows:

     1. DEFINITIONS. In this Agreement, the following words and expressions
shall have the following meanings:

     1.1. "Affiliate" shall mean, with respect to any party, any Person that,
directly or indirectly, is controlled by, controls or is under common control
with such party, but only for so long as such relationship exists.

     1.2. "Applicable Currency" shall mean, with respect to a country in the
Territory, the lawful currency of such country.

     1.3. "Contract Quarter" shall mean for any country in the Territory the
three (3) month period commencing on the first day of the first fiscal quarter
beginning immediately after the Launch Date in such country, (unless the Launch
Date is the first day of a fiscal quarter, in which case the first Contract
Quarter

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shall commence on such day) and ending on the last day of the fiscal quarter and
each fiscal quarter thereafter throughout the term of this Agreement.

     1.4. "Contract Year" shall mean, with respect to a country in the
Territory, the twelve (12) month period commencing on the first day of the first
fiscal quarter beginning immediately after the date of the first commercial sale
(the "Launch Date") of the Initial Product in such country (unless such Launch
Date is the first day of a fiscal quarter, in which case the first Contract Year
shall commence on such day) and each separate successive twelve (12) month
period thereafter.

     1.5. "Effective Date" shall mean the date of this Agreement.

     1.6. "Extended Product" shall mean any Extended Product (as defined in the
U.S. Agreement.

     1.7. "Formula Price Percentage" shall mean that term as defined in Section
4.1(c).

     1.8. "Improvements" shall mean extensions of the label claims for the
Initial Product, including new dosage and presentation forms and packaging
improvements for the Initial Product, within the Field.

     1.9. "Initial Product" shall mean hylan gel-fluid 20 (hylan G-F 20) Synvisc
currently approved as a device with a CE mark for the intra-articular treatment
by viscosupplementation of osteoarthritis of the knee, to be supplied in
pre-filled syringes packaged ready for use complying with applicable product
approvals as a device.

     1.10. "Initial Product Specifications" shall mean the specifications for
the Initial Product set forth on Exhibit A in each of the International and U.S.
License Agreements.

     1.11. "Initial Term" shall mean that term as defined in Section 2.1.

     1.12. "Long Range Forecast" shall mean that term as defined in Section 5.1.

     1.13. "Manufacturing Costs" shall mean the

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

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                                        *

     1.14. "Minimum Price" shall mean that term as defined in Section 4.1(b).

     1.15. "Net Revenues" shall mean for a specified period the total gross
invoice price received from the sale of all Units by Wyeth and its Affiliates in
the Territory during such period to non-Affiliated wholesalers, hospitals,
retail pharmacies, patients and other third party purchasers,

                                        *

Such amounts shall be determined from the books and records of Wyeth and its
Affiliates maintained in accordance with generally accepted accounting
principles, consistently applied.

     1.16. "Patents" shall mean Letters Patent or similar statutory rights
relating to any Product (including any continuation-in-part, continuation or
division thereof or substitute thereof), patent applications which are pending
as of the Effective Date, patent term extensions and Supplementary Protection
Certificates, in each case as set forth on Exhibit B hereto, together with any
supplementary or complementary protection certificates therefor if and when such
are granted.

     1.17. "Person" or "person" shall mean an individual, a corporation, a
partnership, a trust, an unincorporated organization or a government or any
agency or political subdivision thereof.

     1.18. "Per Unit Formula Price" shall mean that term as defined in Section
4.1(c).

     1.19. "Product(s)" shall mean the Initial Product, together with any
Improvements (as defined in Section 1.8) to the Initial Product.

     1.20. "Region" shall mean any one of the following groups of countries

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

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     1.21. "Syringe" shall mean a pre-package 2.0 ml syringe of the Product.

     1.22. "Supply Forecast" shall mean that term as defined in Section 5.2.

     1.23. The "Supply Price" in effect at any time shall mean the supply price
per unit of a Product or Extended Products to be paid by Wyeth under this
Agreement for resale in the Territory, as determined at such time in accordance
with the provisions of Section 4.1 or, as the case may be, Section 4.2 hereof.

     1.24. "Territory" shall mean, collectively, the Territory as defined in the
US License Agreement and the Territory as defined in the International License
Agreement.

     1.25. "Trademarks" shall mean (i) the trademark Synvisc(R) and each other
mark, trademark or service mark described on Exhibit B hereto, and (ii) any
other marks, trademarks or service marks, as may be agreed upon in writing from
time to time by the parties hereto for use by Wyeth in connection with the
promotion, marketing and sale of the Products and Extended Products under this
Agreement.

     1.26. "Treatment Pack" shall mean a quantity of the Initial Product
sufficient for one treatment course, consisting of three Syringes.

     1.27. "Unit" shall mean, with respect to the Initial Product, a 2.0 ml
syringe of the Initial Product.

     1.28. "U.S. Dollars" and "US$" shall mean the lawful currency of the United
States of America.

     2. TERM AND TERMINATION.

     2.1. Term. Unless this Agreement is sooner terminated in accordance with
its provisions, the initial term of this Agreement shall, on a
country-by-country basis commence on the Effective Date and shall end, with
respect to Products or Extended Products, as applicable, on

                                        *

(the "Initial Term"). Thereafter, this Agreement shall continue until terminated
by either party in accordance with its provisions.

     2.2. Termination.

     (a) Breach. This Agreement may be terminated by either party if the other
party shall commit a material breach of any provision hereof and shall not cure
such breach within

                                        *

after a written notice by the other party to

           *Confidential portions have been omitted and filed separately with
            the Commission.

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cure the breach; provided, that in the case of a payment breach such cure period
shall be equal to

                                        *

after written notice.

                                        *

     (b) Insolvency. This Agreement may be immediately terminated, whether
during the Initial Term or any Additional Period (as defined below), by either
party, upon giving written notice to the other party, in the event that the
other party shall become insolvent or be declared bankrupt by a court of
competent jurisdiction or shall be the subject of any reorganization (other than
a corporate reorganization effected in the ordinary course of business and not
arising out of any insolvency) or winding up, receivership or dissolution,
bankruptcy or liquidation proceeding, or any proceeding or action similar to one
or more of the above, in which case termination shall be effective upon such
written notice. The failure of either party to give notice of termination upon
obtaining knowledge of any such event shall not be interpreted as a waiver of
such party's rights under this Section 2.2(b), and such party reserves the right
to exercise any such rights at any time after the occurrence of any such event.

     3. SUPPLY OF PRODUCT.

     3.1. Initial Term. (a) During the Initial Term, on a country-by-country
basis, Biomatrix agrees to sell, or to cause an Affiliate to sell, Product to
Wyeth, on the terms and subject to the conditions set forth herein, for resale
by Wyeth within a given country in the Territory, and Wyeth shall obtain the
Product for resale in the Territory only from Biomatrix or such Affiliate of
Biomatrix.

     (b) The parties agree that Extended Products shall be encompassed within
the terms of this Agreement as it relates to Products. The parties agree that
there shall be

                                        *

relating to any such Extended Products and that the Minimum Prices and Transfer
Prices applicable to any such Extended Products would be substantially
equivalent to

                                        *

In addition,

                                        *

The parties agree to negotiate in good faith with respect to the establishment
of the Initial Term and Additional Periods, Minimum Purchases, and any other
necessary terms relating to the manufacture and sale of Extended Products which
are not contemplated in this Agreement,

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

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     (c) If the supply of Products becomes non-exclusive with respect to a
country pursuant to Section 2.3(a) of the US Agreement or International
Agreement then the Supply Pricing for Products for such country shall be
determined in accordance with Section 4.2(b).

     3.2. Additional Periods.

     (a) Within

                                        *

prior to the end of each Initial Term and each Additional Period (as defined
below), the parties shall mutually determine in writing whether the supply of
Product during any

                                        *

period following the Initial Term (each an "Additional Period") shall be on an
exclusive basis (i.e. a decision with respect to

                                        *

must be made prior to the commencement of

                                        *

and decision with respect to

                                        *

must be made prior to the commencement of

                                        *

     (b) If any Additional Period supply arrangement is determined

                                        *

then Biomatrix shall supply Wyeth exclusively and Wyeth shall purchase all of
its requirements for the Product for such country from Biomatrix.

     (c)

                                        *

     3.3 Production Capacity. (a) Biomatrix and its Affiliates shall use
commercially reasonable efforts to ensure that they shall have the manufacturing
capacity to produce quantities of Products in amounts equal to

                                        *

     (b) Biomatrix shall prepare and deliver to Wyeth a Management Plan within
thirty (30) days after the Effective Date. The Management Plan shall describe in
reasonable detail the

                                        *

Thereafter, Biomatrix shall prepare and deliver to Wyeth not less than quarterly
commencing with the quarter ending March 31, 1997,

           *Confidential portions have been omitted and filed separately with
            the Commission.

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                                        *

     (c)

                                        *

        4. PRICE AND PAYMENT.

     4.1 Supply Price During Initial Term.

     (a) Transfer Price. On a country-by-country basis, the "Transfer Price" per
Syringe for sales of the Initial Product

                                        *

     (b) Minimum Price. The "Minimum Price" for the

                                        *

     (c) Formula Price Percentage. The Formula Price Percentage in the Initial
Term and thereafter will be as follows:

     (i) Initial Term Formula Price Percentage. The "Formula Price Percentage"
applicable during the Initial Term shall be determined according to the
following formula for sales of the Products (and Extended Products):

           *Confidential portions have been omitted and filed separately with
            the Commission.

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                                        *

     (ii) Post Initial Term Formula Price Percentage. The "Formula Price
Percentage" applicable during any Contract Year after the Initial Term shall be
determined according to the following Formula for sales of the Products (and
Extended Products):

                                        *

     (iii) The "Per Unit Formula Price" for any period shall equal

                                        *

----------

*/ As used in this table "Annual Net Revenues" shall be based on U.S. dollar
equivalents using the exchange rates determined in accordance with - Section 15.

**/ Rates set forth in this table are marginal rates.

           *Confidential portions have been omitted and filed separately with
            the Commission.

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     (d) Annualized Formula Price Percentage Calculation. Within

                                        *

after the close of each Contract Quarter of the Initial Term after the first
Contract Year, the

                                        *

for such Contract Quarter shall be determined. The annualized Formula Price
Percentage applicable to any Contract Quarter of the Initial Term after the
first Contract Year shall be determined by

                                        *

     (e) Reconciliation of Transfer Price and Per Unit Formula Price.

        (i)  Quarterly Reconciliation. Within *

             after the close of each Contract Quarter, the parties shall
calculate the extent to which the

                                        *

             for such Contract Quarter exceeds or is below the Transfer Price
paid by Wyeth for the Units used in calculating

                                        *

             with respect to such Contract Quarter. A reconciling adjustment
which equals

                                        *

             shall be made and paid by the appropriate party within

                                        *

             thereafter.

        (ii) Annual Reconciliation. Within

                                        *

             after the close of each Contract Year, the parties shall calculate
the extent to which the

                                        *

             for such Contract Year exceeds or is below the Transfer Price paid
by Wyeth for the Units used in calculating

                                        *

             with respect to such Contract Year. A reconciling adjustment which
equals

                                        *

             shall be made and paid by the appropriate party within

                                        *

             thereafter.

     (f) Supply Price. On a Contract Year basis, the Supply Price per Syringe
due to Biomatrix from Wyeth during the Initial Term shall be

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

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     4.2 Supply Price During the Additional Period.

     (a) If Supply is Exclusive. During any Contract Year following the Initial
Term in which the supply of the Product is required to be exclusive to Wyeth,
the Supply Price shall be

                                        *

     (b) If Supply is Non-Exclusive. (i) If Biomatrix determines

                                        *

to convert the supply of Product to a non-exclusive arrangement in a country,
then the parties shall mutually agree in writing upon a price for Product for
such country which shall not be greater than the

                                        *

(ii)

                                        *

prior to the commencement of any such Contract Year setting forth

                                        *

Wyeth shall be obligated to

                                        *

of Products from Biomatrix. At any time during a non-exclusive supply period
that the Percentage Amount is

                                        *

     4.3 Currency of Payments. All payments by Wyeth to Biomatrix for the
purchase of Products or Extended Products hereunder shall be made in U.S.
Dollars at the exchange rate set forth in Section 15.2 hereof within

                                        *

of the invoice date relating thereto.

     4.4 Reporting by Wyeth.

     (a) Monthly reports. Within

                                        *

following the end of each calendar month in each Agreement Year, Wyeth shall
submit to Biomatrix written reports detailing (i) the Units and value of Wyeth's
and its Affiliates' Unit sales and (ii) Net Revenues of the Products and
Extended Products during the immediately preceding calendar month in a manner
consistent with Wyeth's internal sales reporting.

     (b) Yearly reports. Within

                                        *

following the end of each Contract Year, Wyeth shall submit to Biomatrix written
reports detailing Wyeth's and its Affiliates' sales of the Products and Extended
Products during the immediately preceding Contract Year, which reports shall set
forth the Net Revenues from Products and Extended Products in each country in
the Territory from sales during the applicable year to third party purchasers
who are not

           *Confidential portions have been omitted and filed separately with
            the Commission.

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Affiliates of Wyeth, and the aggregate number of Units sold in the Territory
during the applicable Contract Year.

     5. SUPPLY FORECASTS; MINIMUM PURCHASES; RECORDS AND AUDITS.

      5.1 Forecasts. Exhibit C attached hereto sets forth

                                        *

sales forecasts for sales of Units of Products in each country in the Territory
for each of the

                                        *

Contract Years.  Within

                                        *

after the expiration of each of the

                                        *

during any Contract Year, Wyeth shall provide to Biomatrix a forecast of Units
of Products and Extended Products in each country in the Territory for the

                                        *

period (including a year-by-year breakdown) following the delivery of such
report. Such forecasts shall be prepared by Wyeth in good faith, using
reasonable assumptions applicable to each country in the Territory, regarding
the patient population, market penetration, competition, product label and the
price to third parties resulting from Reimbursement Approvals (as defined in the
License Agreements) in the countries in the Territory. Each such sales forecast
described above is referred to herein as a "Long Range Forecast." Such Sales
Forecast may be

                                        *

     5.2 Supply Forecasts. Within

                                        *

after the expiration of each Contract Quarter Wyeth shall provide to Biomatrix
an updated

                                        *

supply forecast (the "Supply Forecast") and the

                                        *

shall be consistent with the firm purchase orders previously delivered pursuant
to Section 7, provided that commencing in

                                        *

after the U.S. Launch Date Biomatrix's obligation to supply Products under the
Supply Forecasts shall not increase

                                        *

The Supply Forecast shall supersede the Long Range Forecast for any applicable
period.

     5.3 Minimum Purchases. Wyeth hereby agrees that

                                        *

it shall purchase

                                        *

no less than

                                        *

for Syringes in each Region in the Territory as set forth on Exhibit C as of the
Effective Date.

     5.4

                                       *

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -11-
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                                        *

     5.5 Records and Audits. Wyeth shall maintain books of account with respect
to its sales of the Products and Extended Products in each country in the
Territory. Biomatrix shall have the right, not more than once during each
calendar year, to have an independent accountant selected and retained by
Biomatrix to inspect and examine such books of Wyeth during regular business
hours for the purpose of verifying the statements of the aggregate Net Revenues
resulting from sales of Products and Extended Products and determining the
correctness of the Formula Price Percentages and Per Unit Formula Prices. The
cost of each such audit shall be borne by Biomatrix unless a material error is
discovered in the course of such audit, in which case the cost shall be borne by
Wyeth. As used herein, a "material" error is one which results in an
underpayment to Biomatrix greater than five percent (5%) actually due. Any
additional payments required as a result of such inspection and examination
shall be immediately paid to Biomatrix and shall bear interest from the date
such amount would otherwise have been paid until the date of actual payment at
the rate per annum set forth in Section 23 hereof.

     6. SHIPMENT AND DELIVERY. Biomatrix shall arrange for shipment and
invoicing to Wyeth of Product and Extended Products ordered by Wyeth via common
carrier,

                                        *

Wyeth shall pay all customs duties, sales taxes and other governmental charges
relating to the importation and sale of Product and Extended Products, and shall
have all responsibility for storing and clearing Product and Extended Products
through customs and for all other importation requirements. No VAT or customs
duty number shall be assigned to any Product or Extended Products without the
prior written consent of Biomatrix.

     7. FIRM ORDERS. Wyeth shall submit a firm purchase order setting forth the
quantities, delivery date and shipping instructions with respect to each
shipment of Product or Extended Product, such purchase orders to be received by
Biomatrix at least

                                        *

prior to the requested delivery date. Such firm purchase orders shall be for
quantities of Product or Extended Product equal to

                                        *

Wyeth shall not submit

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -12-
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any purchase order for fewer than

                                        *

Treatment Packs of Products or Extended Products.

     8. RISK OF LOSS. Biomatrix shall bear all risk of loss, or damage to, all
units of Products and Extended Products until such Products and Extended
Products have been delivered to the port of entry within the Territory. Wyeth
shall bear all risk of loss of, or damage to, all units of Products after
delivery by Biomatrix to the port of entry.

     9. ACCEPTANCE. Biomatrix shall complete a certificate of analysis for each
product batch contained in a shipment to Wyeth in accordance with the test
requirements set forth in the applicable Product Specifications. Biomatrix shall
include each certificate of analysis with the respective shipment to Wyeth.
Should Wyeth notify Biomatrix within

                                        *

of the receipt of any shipment of Product or Extended Product that such Product
or Extended Product does not conform to the applicable Product Specifications
therefor, Biomatrix and Wyeth agree to consult with each other in order to
resolve the discrepancy between each other's determinations regarding any
possible defect. If such consultation does not resolve the discrepancy, the
parties agree to nominate a reputable independent laboratory, acceptable to both
parties, that shall carry out tests on representative samples taken from such
shipment, and the results of such tests shall be binding on the parties, and the
party whose determination was in error as determined by such laboratory shall
pay all costs associated with such testing. Biomatrix shall at its expense
replace any such shipment to the extent that it does not conform to applicable
Product Specifications. All defective Units shall be returned to Biomatrix at
the address set forth above, accompanied or preceded by a reasonably detailed
statement of the claimed defect or non-conformity and proof of date of purchase,
and packed and shipped according to instructions provided by Biomatrix. The
shipping costs of any such returned Units shall be borne by Biomatrix, unless
such Units are determined not to be defective under the terms of this Agreement,
in which case such shipping costs shall be borne by Wyeth.

     10. PURCHASE ORDERS. The provisions of this Agreement shall prevail over
any inconsistent statement or provisions contained in any document related to
this Agreement passing between the parties hereto including, but not limited to,
any purchase order, acknowledgment, confirmation or notice.

     11. LIMITED WARRANTY; LIMITATION ON LIABILITY; INDEMNIFICATION.

     11.1 Limited Warranty. Biomatrix represents and warrants that each Product
and Extended Product supplied to Wyeth hereunder shall:

     (i) conform to the applicable Product Specifications; and

           *Confidential portions have been omitted and filed separately with
            the Commission.

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     (ii) be manufactured, labeled, packaged and tested (while in the possession
or control of Biomatrix) in accordance with applicable laws and regulations in
the respective countries in Territory relating tothe manufacture, labeling,
packaging and testing of the Product or Extended Product.

     THE FOREGOING WARRANTY IS THE SOLE AND EXCLUSIVE WARRANTY GIVEN BY
BIOMATRIX WITH RESPECT TO PRODUCTS AND EXTENDED PRODUCTS, AND BIOMATRIX GIVES
AND MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED,
OTHER THAN THE FOREGOING. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, NO
IMPLIED WARRANTY OF MERCHANTABILITY, NO IMPLIED WARRANTY OF FITNESS FOR ANY
PARTICULAR PURPOSE, AND NO IMPLIED WARRANTY ARISING BY USAGE OF TRADE, COURSE OF
DEALING OR COURSE OF PERFORMANCE IS GIVEN OR MADE BY BIOMATRIX OR SHALL ARISE BY
OR IN CONNECTION WITH ANY SALE OR PROVISION OF PRODUCTS OR EXTENDED PRODUCTS BY
BIOMATRIX, OR WYETH'S USE OR SALE OF PRODUCT, OR BIOMATRIX'S AND/OR WYETH'S
CONDUCT IN RELATION THERETO OR TO EACH OTHER. NO REPRESENTATIVE OF BIOMATRIX IS
AUTHORIZED TO GIVE OR MAKE ANY OTHER REPRESENTATION OR WARRANTY OR TO MODIFY THE
FOREGOING WARRANTY IN ANY WAY.

     The limited warranty set forth in this Section 11 does not apply to any
non-conformity of Products or Extended Products resulting from (a) repair,
alteration, misuse, negligence, abuse, accident, mishandling or storage in an
improper environment by any party other than Biomatrix, or (b) use, handling,
storage or maintenance other than in accordance with Product Specifications.

     Biomatrix's sole obligation with respect to Units of Products or Extended
Products which do not meet the warranty contained herein is limited to
replacement of such Units of the Products or Extended Products, provided that
such Units of Products or Extended Products are returned to Biomatrix in the
manner set forth in Section 9, and only if, as determined by the procedures set
forth in Section 9, such Units of Products or Extended Products are determined
to have been defective under the terms of this Agreement.

     11.2. Limitation on Liability. BIOMATRIX'S LIABILITY, AND THE EXCLUSIVE
REMEDY, IN CONNECTION WITH THE SALE OR USE OF PRODUCTS OR EXTENDED PRODUCTS
(WHETHER BASED ON CONTRACT, NEGLIGENCE, BREACH OF WARRANTY, STRICT LIABILITY OR
ANY OTHER LEGAL THEORY), SHALL BE STRICTLY LIMITED TO BIOMATRIX'S OBLIGATIONS AS
SPECIFICALLY AND EXPRESSLY PROVIDED IN THIS SECTION 11 AND THE LIMITED
INDEMNITIES SET

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FORTH IN SECTION 11.3. EXCEPT AS SPECIFICALLY PROVIDED IN THIS SECTION 11 AND IN
SUCH LIMITED INDEMNITIES, BIOMATRIX SHALL HAVE NO LIABILITY, OBLIGATION OR
RESPONSIBILITY OF ANY KIND, IN ANY WAY OR TO ANY EXTENT, FOR ANY DAMAGES,
LOSSES, COSTS, EXPENSES OR LIABILITIES FOR ANY REPRESENTATION OR WARRANTY OF ANY
KIND WITH RESPECT TO PRODUCTS OR EXTENDED PRODUCTS OR THE PERFORMANCE THEREOF,
OR ARISING IN ANY WAY IN CONNECTION WITH THE PURCHASE OR USE OR INABILITY TO USE
PRODUCTS OR EXTENDED PRODUCTS EVEN IF BIOMATRIX HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WHATSOEVER SHALL BIOMATRIX HAVE ANY
LIABILITY, OBLIGATION OR RESPONSIBILITY FOR ANY INDIRECT, INCIDENTAL,
CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES ARISING IN ANY WAY IN
CONNECTION WITH PRODUCTS OR EXTENDED PRODUCTS OR THEIR SALE OR USE.

     11.3 Indemnification.

     (a) Biomatrix shall indemnify and hold Wyeth and its officers, directors,
shareholders, agents and employees harmless against any and all liability,
damage, loss, cost or expense resulting from any third party claim made or suit
brought against Wyeth or such persons to the extent such claim

                                        *

Upon the filing of any such claim or suit, Wyeth shall immediately notify
Biomatrix thereof, and shall permit Biomatrix at its cost to handle and control
such claim or suit. Wyeth shall have the right to participate in the defense of
such claim or suit at its own expense.

     (b) Wyeth shall indemnify and hold Biomatrix and its officers, directors,
shareholders, agents and employees harmless against any and all liability,
damage, loss, cost or expense resulting from any third party claim made or suit
brought against Biomatrix or such persons to the extent such claim

                                        *

Upon the filing of any such claim or suit, Biomatrix shall immediately notify
Wyeth thereof and shall permit Wyeth at its cost to handle and control such
claim or suit. Biomatrix shall have the right to participate in the defense of
such claim or suit at its own expense.

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -15-
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                                        *

     13. LICENSING AND COMPLIANCE; NOTICES; INSPECTION. (a) Wyeth shall, at its
expense, obtain any and all import licenses that may be necessary to permit the
sale by Biomatrix and the purchase by Wyeth of Products or Extended Products
hereunder, comply with all registration requirements in the Territory and comply
with any and all governmental laws, regulations, and orders that may be
applicable to Wyeth by reason of its execution of this Agreement including all
laws, regulations or orders that govern or affect the ordering, shipment,
import, sale (including government procurement), delivery, or redelivery of
Products and Extended Products in the Territory. Wyeth shall furnish Biomatrix
with such documentation as Biomatrix may request to confirm Wyeth's compliance
with this Section 13 and agrees that it shall not engage in any course of
conduct that, in Biomatrix's reasonable belief, would cause Biomatrix to be in
violation of the laws of any jurisdiction.

     (b) The manufacturing standards and ingredients for Products will conform
to U.S. Pharmacopoeia Standards, where applicable. All other methods shall be
suitably validated according to acceptance by the FDA, for the approved

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -16-
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PMA for Synvisc, or where applicable, according to the standards accepted by the
notified body for the CE mark in the European Economic Area.

     (c) Wyeth shall have the right, on reasonable prior notice to Biomatrix, to
inspect Biomatrix's manufacturing, packaging and storage facilities used in the
manufacture, packaging, storage, testing, shipping and receiving of Products and
Extended Products and their components and any Person conducting any such
inspection shall be bound by the confidentiality provisions of Section 7 of the
U.S. Agreement and Section 8 of the International Agreement.

     14. LOCAL LAWS. Each party shall notify the other party of the existence
and content of any provision of law in the Territory or any other applicable law
that conflicts with any provision of this Agreement at the time of its execution
or thereafter.

     15. PAYMENTS; EXCHANGE RATE.

     15.1 Payments. All payments hereunder shall be made in U.S. Dollars and at
the exchange rates set forth in Section 15.2 and paid within

                                        *

unless otherwise agreed by the parties. Payments to Biomatrix shall be wired to
an account in a bank designated by Biomatrix and the costs of any such
remittance shall be borne by Wyeth.

     15.2 Exchange Rate. All amounts denominated in an Applicable Currency shall
be converted to U.S. Dollars using the consistently applied method of conversion
utilized by Wyeth at the corporate level for financial reporting purposes.

     16. WITHHOLDING. All payments to be made by Wyeth under this Agreement
shall be made in full, free and clear of and without any deduction of or
withholding for or on account of any taxes levied in any country of the
Territory or elsewhere; provided that if Wyeth shall be required by law to make
any deduction or withholding from any payment to Biomatrix then:

     (i) Wyeth shall ensure that such deduction or withholding does not exceed
the minimum legal liability therefor;

     (ii) at least thirty (30) days prior to the first deduction or withholding,
Wyeth shall notify Biomatrix thereof, and the parties shall negotiate in good
faith adjustments to the payments hereunder in order to minimize or eliminate
such deduction or withholding, provided that the total payments by Wyeth shall
not increase; and

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -17-
<Page>

     (iii) Wyeth shall forward to Biomatrix such documentary evidence as may be
available in respect of each deduction, withholding or payment together with
each payment or promptly thereafter.

     17. QUESTIONABLE PAYMENTS. Wyeth shall not, directly or indirectly, in the
name of, on behalf of, or for the benefit of Biomatrix offer, promise or
authorize to pay, or pay any compensation or give anything of value to, any
official, agent or employee of any government or governmental agency, or to any
political party or officer, employee or agent thereof in connection with the
promotion or sale of Products or Extended Products.

     18. FURTHER ASSURANCES. The parties hereto agree to execute such further or
other documents and assurances as are necessary from time to time in order to
give effect to the provisions of this Agreement.

     19. ASSIGNMENT. The rights and obligations of the parties hereto shall
inure to the benefit of and shall be binding upon the authorized successors and
permitted assigns of each party. Neither party may, without the prior written
consent of the other party, take any of the following actions (collectively
referred to herein as an "Assignment"): (i) assign or transfer its rights or
obligations under this Agreement, (ii) license or sublicense any of its rights
or obligations under this Agreement, or (iii) designate another person to
perform all or part of its obligations under this Agreement or have all or part
of its rights and benefits under this Agreement; provided, however, that a party
may make Assignments to Affiliates of such party or to a successor, by merger,
and provided, further that in the case of an Assignment to an Affiliate the
assigning party shall promptly notify the other party in writing of such
Assignment and shall remain liable (both directly and as guarantor) with respect
to all obligations so assigned. In the event of any permitted Assignment or in
the event that an Affiliate of either party shall exercise rights and/or perform
obligations hereunder pursuant to the terms of this Agreement, the assignee or
Affiliate, as the case may be, shall specifically assume and be bound by the
provisions of the Agreement by executing and agreeing to an assumption agreement
satisfactory to the other party hereto.

     20. GOVERNING LAW; INJUNCTIVE RELIEF.

     20.1 Governing Law and Dispute Resolution. This Agreement and the
respective rights and obligations of the parties shall be governed by and
construed in accordance with the internal and substantive laws of the State of
New Jersey, United States of America (without regard to principles of conflicts
of laws). The parties hereby agree that the United Nations Convention on
Contracts for the International Sale of Goods shall not apply to this Agreement
or any other document contemplated hereby. In the event of any dispute touching
or concerning this Agreement, the parties hereby agree to submit such dispute to
their respective chief

                                      -18-
<Page>

executive officers or their designees by notice delivered in accordance with the
provisions of Section 25 hereof. Each of the parties agrees that any suit
relating to this Agreement may be brought in the courts of the State of New
Jersey or any federal court and service of process in any such suit being made
by mail at the address specified in Section 25. Each party hereby waives any
objection that it may now or hereafter have to the venue of any such suit or any
such court or that such suit is brought in an inconvenient court.

     20.2 Injunctive Relief. Each of the parties hereto acknowledges and agrees
that damages will not be an adequate remedy for any material breach or violation
of this Agreement if such material breach or violation would cause immediate and
irreparable harm (an "Irreparable Breach"). Accordingly, in the event of a
threatened or ongoing Irreparable Breach, each party hereto shall be entitled to
seek, in any state or federal court in the State of New Jersey, equitable relief
of a kind appropriate in light of the nature of the ongoing threatened
Irreparable Breach, which relief may include, without limitation, specific
performance or injunctive relief; provided, however, that if the party bringing
such action is unsuccessful in obtaining the relief sought, the moving party
shall pay the non-moving party's reasonable costs, including attorney's fees,
incurred in connection with defending such action. Such remedies shall not be
the parties' exclusive remedies, but shall be in addition to all other remedies
provided in this Agreement.

     21. SEVERABILITY. In the event that any provision of this Agreement shall
be held by a court of competent jurisdiction or by any governmental body to be
invalid or unenforceable, such provision shall be deemed severable and the
remaining parts and provisions of this Agreement shall remain in full force and
effect.

     22. FORCE MAJEURE. Each of the parties shall be excused from the
performance of its obligations hereunder in the event such performance is
prevented by force majeure, and such excuse shall continue as long as the
condition constituting such force majeure continues. For the purpose of this
Agreement, force majeure is defined as contingencies beyond the reasonable
control of either party, including, without limitation, acts of God, judicial or
regulatory action, war, civil commotion, destruction of production facilities or
materials by fire, earthquake or storm and labor disturbances (whether or not
any such labor disturbance is within the power of the affected party to settle).
The party affected by force majeure shall provide the other party with full
particulars thereof as soon as it becomes aware of the same (including its best
estimate of the likely extent and duration of the interference with its
activities), and will use its best endeavors to overcome the difficulties
created thereby and to resume performance of its obligations as soon as
practicable.

     23. INTEREST. Any overdue amounts payable by either party hereunder shall
bear interest compounded monthly at the prime lending rate for U.S. Dollars

                                      -19-
<Page>

published from time to time in The Wall Street Journal plus

                                        *

per annum, or, if lower, the highest rate permissible by applicable law, from
the due date until the date of payment.

     24. NO PARTNERSHIP OR AGENCY. This Agreement and the relations hereby
established by and between Biomatrix and Wyeth do not constitute a partnership,
joint venture, agency or contract of employment between them.

     25. NOTICES. All communications in connection with this Agreement shall be
in writing and sent by postage prepaid first class mail, courier, or telefax,
and if relating to default, late payment or termination, by certified mail,
return receipt requested, telefax or courier, addressed to each party at the
address above, in the case of Biomatrix, Attn: Chief Executive Officer, with a
copy to: Justin P. Morreale, Esq., Bingham, Dana & Gould LLP, 150 Federal
Street, Boston, Massachusetts 02110, U.S.A., and in the case of Wyeth, 555 East
Lancaster Avenue, St. Davids, Pennsylvania 19087, Attn: Senior Vice President,
Global Business Development, with a copy to American Home Products Corporation,
Five Giralda Farms, Madison, New Jersey 07990, Attn: Senior Vice President and
General Counsel or to such other address as the addressee shall last have
designated by notice to the communicating party. The date of giving any notice
shall be the date of its actual receipt.

     26. EU REGULATIONS. It is the intention of the parties hereto that this
Agreement shall at all times qualify for the exemption from the provisions of
Article 85(1) of the Treaty of Rome dated 25 March 1957, as amended, which
either (a) is available under EEC Regulation Number 1983/83, or (b) may
otherwise be available under any other regulations or successor regulation
thereto. In the event that any provision of this Agreement is deemed to violate
the conditions for qualifying for the exemption, set out in whichever of those
regulations may be in effect at the relevant time, or if any such regulation is
amended after the date of this Agreement so as to cause this Agreement to fail
to qualify for the exemption, the parties hereto agree that they will, as soon
as it is practicable to do so, enter into good faith negotiations to amend this
Agreement as necessary in order to re-qualify for the exemption or notify the
Agreement.

     27. SURVIVAL. The provisions of Sections 11 and 12 of this Agreement shall
survive the termination or expiration of this Agreement (as the case may be) and
shall remain in full force and effect. The provisions of this Agreement that do
not survive termination or expiration hereof (as the case may be) shall,
nonetheless, be controlling on, and shall be used in construing and interpreting
the rights and obligations of the parties hereto with regard to, any dispute,
controversy or claim which may arise under, out of, or in connection with this
Agreement.

           *Confidential portions have been omitted and filed separately with
            the Commission.

                                      -20-
<Page>

     28. MISCELLANEOUS. This Agreement, the Trademark License Agreement and the
License Agreements set forth the entire agreement between the parties with
respect to the transactions and arrangements contemplated hereby and thereby and
supersede all prior oral or written arrangements between the parties. This
Agreement may be modified or amended only by a written instrument executed and
delivered by both parties. None of the provisions of this Agreement shall be
deemed to have been waived by any act or acquiescence on the part of either
party except by an instrument in writing signed and delivered by the party
executing the waiver. This Agreement may be executed in several identical
counterparts, each of which shall be an original, but all of which constitute
one instrument, and in making proof of this Agreement it shall not be necessary
to produce or account for more than one such counterpart. The English language
version of this Agreement shall govern and control any translations of this
Agreement into any other language. References herein to Sections and Exhibits
are to Sections of and Exhibits to this Agreement. The title of this Agreement
and the section headings contained herein are for convenience of reference only
and shall not define or limit the provisions hereof.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date and year first above written.

AMERICAN HOME PRODUCTS                          BIOMATRIX, INC.
 CORPORATION

By: /s/ Fred Hassan                             By: /s/ Endre A. Balazs
    ----------------------------                -----------------------
Name:  Fred Hassan                              Name:  Endre A. Balazs
Title: Executive Vice President                 Title: Chief Executive Officer

                                      -21-
<Page>

                                    EXHIBITS

Exhibit A    -    Initial Product Specifications

Exhibit B    -    Patents and Trademarks

Exhibit C    -    Long Range Forecast

                                    SCHEDULES

1.13         -    Manufacturing Costs

<Page>

                                    EXHIBIT A

                         Initial Product Specifications

                      U.S. AGREEMENT PRODUCT SPECIFICATIONS

                           SPECIFICATION OF SYNVISC(R)
                                 (HYLAN G-F 20)

<Table>
<Caption>
<S>                               <C>
Test                              Specifications
----                              --------------
</Table>

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                                                       EXHIBIT A

                    EUROPEAN AGREEMENT PRODUCT SPECIFICATIONS

                           SPECIFICATION OF SYNVISC(R)
                                 (HYLAN G-F 20)

<Table>
<Caption>
<S>                               <C>
Test                              Specifications
----                              --------------
</Table>

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                    EXHIBIT B

                             Patents and Trademarks

I.   SYNVISC RELATED UNITED STATES PATENTS

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                        Exhibit B Patents and Trademarks

I.   SYNVISC RELATED GERMAN, SPANISH AND AUSTRIAN PATENTS(1)/

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                    EXHIBIT C

                         UNIT (SINGLE SYRINGE) FORECAST

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                  SCHEDULE 1.13

     ALLOCATION AND COSTS NOT DIRECTLY ASSOCIATED WITH, BUT RELATED TO, THE
                  PRODUCTION OF PRODUCT AND EXTENDED PRODUCTS.

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                                        *

           *Confidential portions have been omitted and filed separately with
            the Commission.

<Page>

                               FIRST AMENDMENT TO

                                SUPPLY AGREEMENT

     This FIRST AMENDMENT (this "Supply Amendment Agreement"), is made as of
June 13, 2000 (the "Amendment Effective Date"), by and between Biomatrix, Inc.
("Biomatrix") and American Home Products Corporation, acting through its
unincorporated Wyeth-Ayerst Laboratories division (together "Wyeth") to amend
that certain Supply Agreement, dated as of February 7, 1997, by and between
Biomatrix and Wyeth (the "Supply Agreement").

     WHEREAS, Biomatrix and Wyeth entered into the Supply Agreement by which
Biomatrix agreed to supply Wyeth with its requirements of certain products and
now the parties wish to amend certain provisions of the Supply Agreement;

     NOW, THEREFORE, in consideration of the mutual promises contained in this
Agreement, and intending to be legally bound thereby, the parties hereto agree
as follows:

     1.   Capitalized terms used in this Supply Amendment Agreement and
          not otherwise defined shall have the meanings ascribed to such terms
          in the Supply Agreement.

     2.   Section 1.20 of the Supply Agreement is hereby deleted in its
          entirety.

     3.   Section 1.24 of the Supply Agreement is hereby deleted in its entirety
          and replaced with the following:

          1.24 "Territory shall mean the following countries: Germany, Greece,
               Portugal, Turkey, Poland and Czech Republic."

     4.   Section 5.3 of the Supply Agreement is hereby amended by deleting the
          words "in each Region".

     5.   Section 5.4 of the Supply Agreement is hereby amended by deleting the
          words "in each Region", and the words "as it applies to such Region".

     6.   EXHIBIT B to the Supply Agreement is hereby deleted in its entirety
          and replaced with EXHIBIT B attached hereto.

     7.   EXHIBIT C to the Supply Agreement is hereby amended to remove
          all references to the Relinquished Countries (as defined in the First
          Amendment to International License Agreement between Biomatrix and
          Wyeth of even date herewith), and the row for "Other".

     8.   This Supply Amendment Agreement and the respective rights and
          obligations of the parties shall be governed and construed in
          accordance with the internal and substantive laws of the State of New
          Jersey, United States of America (without regard to principles of
          conflicts of laws). This Supply Amendment Agreement may be executed in
          severa1 identical counterparts, each of which shall be an original,
          but all of which constitute one instrument, and in making proof of
          this Agreement it shall not be necessary to produce or account for
          more than one such counterpart.

     9.   Except as specifically modified hereby, the Supply Agreement shall
          remain unmodified and in full force and effect.

<Page>

     IN WITNESS WHEREOF, the parties hereto have executed this Supply Amendment
Agreement as an instrument under seal as of the date first above stated.

               BIOMATRIX, INC.

               By:    /s/ Endres A. Balazs
                   -----------------------------
               Name:  Endre A. Balazs
               Title: Chief Executive Officer

               AMERICAN HOME PRODUCTS CORPORATION

               By:    /s/ Egon E. Berg
                   ------------------------------
               Name:  Egon E. Berg
               Title: Vice President

                                      -2-
<Page>

                                    EXHIBIT B

                             PATENTS AND TRADEMARKS

I.   SYNVISC RELATED UNITED STATES PATENTS

     A.   Biocompatible Viscoelastic Gel Slurries, Their Preparation and Use

          Patent No. 5,143,724; expires 7/9/2010

          Patent No. 5,246,698; expires 12/20/2011

          Patent No. 5,399,351; expires 6/24/2013

     B.   Chemically Modified Hyaluronic Acid and Method of Recovery Thereof
          from Animal Tissues

          Patent No. 4,713,448; expires 3/12/2005

          Patent No. 5,099,011; expires 3/12/2005

     C.   Cross-Linked Gels of Hyaluronic Acid and Containing Such Gels

          Patent No. 4,582,865; expires 12/6/2004

          Patent No. 4,636,524; expires 12/6/2004

          Patent No. 4,605,691; expires 12/6/2004

II.  SYNVISC RELATD GERMAN PATENTS

     A.   Biocompatible Viscoelastic Gel Slurries, Their Preparation and Use

          Pending European Patent Application No. 91303606.7; filed 4/22/91

          designating Germany; when issued, will expire 4/22/2011

     B.   Chemically Modified Hyaluronic Acid and Method of Recovery Thereof
          from Animal Tissues

          Patent No. 36 07 897; expires 3/10/2006

          Patent No. 35 45 191; expires 3/10/2006

          Patent No. 36 45 226; expires 3/10/2006; and

          European Patent No. P 38 52 992 (Germany); expires 11/29/2008

<Page>

     C.   Cross-Linked Gels of Hyaluronic Acid and Products Containing Such Gels

          Patent No. 35 20 008; expires 6/4/2005

          Patent No. 35 46 811; expires 6/4/2005

     D.   Water Insoluble Preparation of Hyaluronic Acid

          Patent No. P 34 34 082; expires 9/17/2004

          Patent No. P 34 34 104; expires 9/17/2004

III.     SYNVISC(R)

<Table>
<Caption>
         COUNTRY           REGISTRATION NO.        TERM       EXPIRATION DATE
         -------           ----------------        ----       ---------------
         <S>               <C>                     <C>        <C>
         United States     1,418,125               20 Yrs.    November 25, 2006

         Germany           1,110,922               10 Yrs.    December 20, 1996

                           (Renewal)               10 Yrs.    December 20, 2006

         Greece            127,446                 10 Yrs.    March 17, 2008

         [CTM              Ser. No. 000338731            PENDING]

         Turkey            180724                  10 Yrs.    January 30, 2007

         Portugal          314081                  10 Yrs     September 4, 2006

         Poland            Being Filed/Pending

         Czech Republic    Being Filed/Pending     10 Yrs.    February 24, 2007
</Table>

                                       -2-<Page>

                                                                   EXHIBIT 10.47

*Confidential portions have been omitted and filed separately with the
Commission.

                           TRADEMARK LICENSE AGREEMENT

     THIS TRADEMARK LICENSE AGREEMENT (this "Agreement") is made as of this 7th
day of February, 1997 by and between Biomatrix, Inc., a Delaware corporation
having its principal place of business at 65 Railroad Avenue, Ridgefield, New
Jersey, U.S.A. ("Biomatrix"), and American Home Products Corporation, a Delaware
corporation having its principal place of business at Five Giralda Farms,
Madison, New Jersey 07940, U.S.A., acting through its unincorporated
Wyeth-Ayerst Laboratories division (such entities are together defined herein as
"Wyeth").

     WHEREAS, Biomatrix and Wyeth are parties to that certain International
License Agreement (the "International License Agreement") and United States
License Agreement (the "U.S. License Agreement"), each dated as of February 7,
1997 (together, the "License Agreements"), pursuant to which (i) Biomatrix
agreed to sell and license to Wyeth, and Wyeth agreed to purchase and license
from Biomatrix, Products (as defined in the License Agreements) and Extended
Products and (ii) Biomatrix granted to Wyeth the right and license to use
certain trademarks owned by Biomatrix in any promotional materials used by Wyeth
to market the Products and Extended Products, all on the terms and conditions
set forth in the License Agreements;

     WHEREAS, Biomatrix is the owner of rights in, and the goodwill associated
with, the Trademark (as defined below); and

     WHEREAS, Biomatrix and Wyeth desire to enter into this Agreement for
purposes of licensing Wyeth to use the Trademark in the Territory (as defined in
each of the License Agreements, respectively).

     NOW, THEREFORE, the parties hereto agree as follows:

        1. DEFINITIONS; RULES OF INTERPRETATION

        1.1 Definitions. Unless otherwise specifically provided herein, all
defined terms herein shall have the meanings ascribed them in the License
Agreements in effect on the effective date of this Agreement. For purposes of
this Agreement, the term "Trademark" shall mean (i) the trademark "Synvisc(R)"
and each other mark, trademark or service mark described on Exhibit A hereto,
and (ii) any other marks, trademarks or service marks as may be agreed upon in
writing from time to time by the parties hereto for use by Wyeth in connection
with the promotion, marketing and sale of Products and Extended Products.

                                       -1-
<Page>

        1.2 Rules of Interpretation.

          (a) All definitions (whether set forth herein or by reference) shall
apply equally to both the singular and plural forms of the terms defined.
Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. All references herein to Sections shall be
deemed references to Sections of this Agreement unless the context otherwise
requires.

          (b) In the event that any of the terms or provisions of this Agreement
shall be in conflict with or be inconsistent with any of the terms or provisions
of the License Agreements, the terms and provisions of this Agreement shall
govern.

        2. GRANT OF LICENSE; ROYALTY.

        2.1 License. Subject to the terms and conditions of this Agreement,
Biomatrix grants to Wyeth, and Wyeth accepts from Biomatrix, the exclusive,
right and license (without the right to sublicense), for the term of this
Agreement, to use and display, and Wyeth shall use and display, the Trademark
solely in connection with the sale, distribution, marketing, advertising and
promotion of Products and Extended Products in the Field in the Territory. Wyeth
agrees that it shall not use the Trademark at any time outside the Territory or
use any Trademark for any products other than the Products and Extended Products
within the Territory, or for any other purpose except as provided herein.

        2.2 Limitation of Rights. Wyeth shall have the right to use the
Trademark only in the manner and to the extent specifically permitted by this
Agreement. Biomatrix retains all rights not expressly granted to Wyeth in this
Agreement. If Wyeth's license to sell Products or Extended Products terminates
with respect to any country in the Territory then Wyeth's rights to use the
Trademark and all other product specific logos, slogans and other intangibles
used by Wyeth or its Affiliates in association with the sale of Products and
Extended Products (including all registrations relating thereto) shall terminate
with respect to such country and, subject to Wyeth's sell-out rights with
respect to inventory, Wyeth shall (i) immediately with respect to such country
cease using the Trademark and any such logos, slogans, and marketing rights of
Biomatrix or any imitations thereof and (ii) immediately execute and deliver to
Biomatrix any documents or instruments reasonably requested by Biomatrix to give
full effect to the provisions of this Section 2.2.

        2.3 Royalty. In consideration of the license granted to Wyeth in Section
2.1, Wyeth agrees to pay royalties to Biomatrix as follows:

          (a) Wyeth shall pay to Biomatrix royalties in an amount equal to

                                        *

               *Confidential portions have been omitted and filed separately
                with the Commission.

                                       -2-
<Page>

                                        *

          (b) The amount of royalties due hereunder shall be computed quarterly.
Within

                                        *

after the close of each calendar quarter, Wyeth shall pay to Biomatrix in cash
the royalties owed hereunder with respect to such quarter. Each such payment
shall be accompanied by a statement describing in reasonable detail the
calculation of the amount of the accompanying royalty payment.

                                        *

          (c) All royalty payments shall be made in U.S. Dollars. The amount of
Net Revenues paid in another currency shall be converted into U.S. Dollars in
accordance with Section 4 of the International License Agreement.

          2.4. Intangibles. Biomatrix shall have exclusive ownership rights to
the Trademark and all other product specific logos, slogans and other
intangibles relating to the Products and Extended Products possessed or
controlled by Wyeth or any of its Affiliates.

          3. TERM AND TERMINATION. Unless earlier terminated pursuant to this
Paragraph 3, this Agreement shall continue in force, on a country-by-country
basis,

                                        *

Notwithstanding the foregoing, this Agreement may be terminated by Biomatrix at
any time upon written notice thereof to Wyeth upon the occurrence of any of the
following:

               (a) Breach of any duty or obligation of Wyeth hereunder not cured
within

                                        *

after receipt of written notice thereof from Biomatrix;

               (b) Termination of each of the International License and U.S.
License by Biomatrix as a result of Wyeth's breach;

               (c) Termination of each of the International License and U.S.
License by Wyeth;

               (d) Institution by Wyeth of bankruptcy, insolvency, liquidation
or receivership proceedings, or proceedings for reorganization under bankruptcy
or comparable laws;

               (e) Institution against Wyeth of any of the proceedings listed in
(d) above, the effectiveness of which is not stayed or dismissed within sixty
(60) days after such institution;

*Confidential portions have been omitted and filed separately with the
Commission.

                                       -3-
<Page>

               (f) Wyeth's making of a general assignment for the benefit of
creditors; and

               (g) Wyeth's failure to use the Trademark for a material amount of
time in connection with material amounts of sales of Products or Extended
Products.

          4. EFFECTS OF TERMINATION.

          Wyeth shall not have, and hereby waives, any claim for lost profits or
goodwill relating to the termination of this Agreement. Upon the expiration or
termination of this Agreement, Wyeth shall (i) immediately discontinue all use
of the Trademark, its component parts or any colorable imitations thereof, by
itself or in combination with any other words, letter, symbols or designs and
all other logos, slogans, marketing rights and other intangibles (or any
imitations thereof) relating to the Products or Extended Products and (ii)
immediately take all necessary action and execute and deliver to Biomatrix any
documents and instruments reasonably requested by Biomatrix to give full effect
to the provisions of this Section 4, including without limitation those
necessary to remove Wyeth as a registered user and/or a recorded licensee of the
Trademark.

                                        *

Thereafter, Biomatrix shall have the right, but not the obligation,

                                        *

The termination of this Agreement shall not affect any obligation accruing prior
to such termination. In the event that Wyeth fails promptly upon written request
by Biomatrix to comply with any of its agreements in this Section 4, Wyeth
hereby irrevocably consents to Biomatrix's taking any action necessary to give
effect to such agreements.

          5. QUALITY CONTROL

          Throughout the term of this Agreement, Wyeth shall maintain the
quality of products manufactured, sold or distributed under the Trademark at
least at the level of quality maintained for products currently sold and
distributed under the Trademark. Any products sold under the Trademark shall be
made strictly to the same specifications as the Product and/or Extended Product
made by Biomatrix under the Supply Agreement between Biomatrix and Wyeth dated
as of February 7, 1997. If any product sold under the Trademark is not
manufactured by Biomatrix, at least

                                        *

prior to use or distribution thereof, Wyeth shall deliver to Biomatrix for
inspection, testing and/or review samples of product to be sold and all new, or
changes to existing, product signs, labels, packaging materials, advertising and
other materials bearing the Trademark; and Wyeth shall not offer for sale, sell,
distribute or use any such new or changed product or materials without
Biomatrix's express prior written approval. Biomatrix' approval

                                        *

In order to determine Wyeth's compliance with this Paragraph 5, Biomatrix or its
authorized representative may inspect and/or test, at reasonable times and

*Confidential portions have been omitted and filed separately with the
Commission.

                                       -4-
<Page>

under reasonable circumstances, all uses of the Trademark by Wyeth and all
underlying goods. Each product produced or distributed hereunder shall comply
with all applicable laws and regulations and shall conform in all respects to
the sample of such product approved by Biomatrix hereunder. In the event of any
nonconformity or any deterioration in the quality of a product sold under the
Trademark (as determined by Biomatrix in good faith), Biomatrix may, in addition
to other available remedies, by written notice to Wyeth, require that such
product be immediately withdrawn from the market and Wyeth shall promptly cause
such withdrawal.

          6. INTELLECTUAL PROPERTY

          6.1 Use and Display of the Trademarks. Wyeth shall use and display the
Trademark in a conspicuous manner in connection with all Products and Extended
Products. Without limiting the generality of the foregoing:

               (a) Wyeth shall include in all advertising and promotional
material created by or for Wyeth in which the Trademark appears such legends,
markings, and notices (such as "TM" or "(R)" superscript, as appropriate) as
required or permitted by any foreign, federal, state or local law or
regulations.

               (b) Subject to applicable laws and regulations in the Territory,
Wyeth shall ensure that all trade literature, publications and promotional
materials relating to any product sold under the Trademark shall specify the
concept of viscosupplementation and that such concept has been conceived and
introduced by Biomatrix.

               (c) Wyeth shall not use the Trademark or any marks confusingly
similar thereto (i) in connection with any goods or services other than products
made to the specifications for the Products or Extended Products or (ii) as part
of or in connection with the legal name of any Person or the tradename of any
Person;

               (d) Wyeth shall not have the right to use any variation of the
Trademark without Biomatrix's written approval (which approval shall be in
Biomatrix's sole discretion) and, in the event that Biomatrix approves the use
of any variation of a Trademark, such approved variation shall become a
Trademark owned by Biomatrix and governed by the terms of this Agreement;

               (e) Wyeth shall not use the Trademark with any other trademark or
tradename, other than Wyeth's standard "house mark," without Biomatrix's prior
written approval (which approval shall not be unreasonably withheld).

          6.2 Ownership and Maintenance of Trademark. Biomatrix expressly
reserves the sole and exclusive ownership of the Trademark and all rights
relating thereto. Wyeth hereby acknowledges that Biomatrix is the sole and
exclusive owner of the

                                       -5-
<Page>

Trademark. Wyeth shall not question or otherwise challenge, either directly or
indirectly, during the term of this Agreement or after its termination or
expiration, Biomatrix's ownership of, and rights in, the Trademark and the
goodwill associated therewith or the validity of this Agreement. All use of the
Trademark by Wyeth shall inure to the benefit of Biomatrix. Upon Biomatrix's
request, whether during or after the term of this Agreement, Wyeth shall provide
necessary samples and information to permit Biomatrix to effect trademark or
service mark registrations and execute and deliver to Biomatrix any documents
required by Biomatrix to confirm Biomatrix's ownership of the Trademark. Wyeth
shall not at any time, either during or after the term of this Agreement, apply
to register the Trademark, or any mark confusingly similar thereto, as a
trademark or service mark anywhere in the world. The parties shall execute a
short form Trademark license agreement to the extent that it is necessary to
record the Trademark license hereunder in any country in the Territory where
Biomatrix deems such recordation to be necessary or desirable.

          6.3 No Assignment. It is understood and agreed that nothing in this
Agreement will be deemed in any way to constitute an assignment by Biomatrix of
the Trademark or of the goodwill associated therewith, or to give Wyeth any
right, title, or interest in and to the Trademark or the goodwill associated
therewith (except the right to make use thereof as herein provided).

          6.4 Infringements by Third Parties. Wyeth shall notify Biomatrix
promptly of any use by any Person of the Trademark or a mark similar to the
Trademark. Biomatrix in its sole discretion shall decide whether or how to
proceed against a third party infringer. Wyeth shall cooperate fully with
Biomatrix in connection with the prosecution of any claim against any such third
party infringer. If requested by Biomatrix, Wyeth shall join with Biomatrix, at
Biomatrix's expense, in any such action as Biomatrix in its sole discretion may
deem advisable, provided, however, that Wyeth shall have no right to take any
action with respect to the Trademark without Biomatrix's prior written approval,
which approval may be withheld in Biomatrix's sole discretion. The proceeds of
any settlement of, or recovery from, any such action shall belong entirely to
Biomatrix. If Biomatrix declines in writing to bring any action against an
alleged third party infringer, Wyeth may proceed and will bear all expenses of
the action. If necessary for Wyeth to proceed, Biomatrix shall join with Wyeth,
at Wyeth's expense. The proceeds of any settlement of, or recovery from, any
such action initiated by Wyeth shall belong entirely to Wyeth.

          7. INDEMNIFICATION

          7.1 Indemnification by Biomatrix. Biomatrix agrees to defend,
indemnify and hold harmless Wyeth from and against any and all claims of third
parties and liabilities, judgments, penalties, losses, costs, damages and
expenses resulting therefrom, arising from infringement claims by third parties
by reason of

                                        *

In the event of any such claim, upon written request by Biomatrix, Wyeth shall
immediately cease and desist from any and all further use or display of the
Trademark.

            *Confidential portions have been omitted and filed separately with
            the Commission.

                                       -6-
<Page>

          7.2 Indemnification by Wyeth. Wyeth agrees to defend, indemnify and
hold harmless Biomatrix from and against any and all claims of third parties and
liabilities, judgments, penalties, losses, costs, damages and expenses resulting
therefrom, arising by reason of

                                        *

          7.3 Procedures for Indemnification. With respect to any claims falling
within the scope of the foregoing indemnifications:

               (a) Each party agrees to notify the other promptly and in writing
of such claims, and to keep the other fully advised with respect to such claims
and the progress of any legal actions relating thereto in which the other party
is not a participant.

               (b) Biomatrix shall have the sole right to undertake and control
the defense and settlement of any claims relating to the ownership or validity
of the Trademark or of any pending application or registration of the Trademark.
Wyeth shall cooperate fully with Biomatrix in connection with the defense of any
such claims brought by third parties. If requested by Biomatrix, Wyeth shall
join with Biomatrix, at Biomatrix's expense, in any such action as Biomatrix in
its sole discretion shall deem advisable.

               (c) Wyeth shall have the right to participate at its own expense
in the defense of any claim instituted against it, and, if it does so
participate, it shall not have the right to recover against Biomatrix the costs
and expenses (including its attorneys' fees) of its participation in such suit.

               (d) In the event that a party assumes the defense of a claim
against the other party, the party assuming the defense shall not enter into any
compromise or settlement of the claim without the prior written consent of the
other party, which consent shall not be unreasonably withheld.

          8. MISCELLANEOUS PROVISIONS

         8.1 Assignment. The rights and obligations of the parties hereto shall
inure to the benefit of and shall be binding upon the authorized successors and
permitted assigns of each party. Neither party may, without the prior written
consent of the other party, take any of the following actions (collectively
referred to herein as an "Assignment"): (i) assign or transfer its rights or
obligations under this Agreement, (ii) license or sublicense any of its rights
or obligations under this Agreement, or (iii) designate another person to
perform all or part of its obligations under this Agreement or have all or part
of its rights and benefits under this Agreement; provided, however, that a party
may make Assignments to Affiliates of such party or to a successor, by merger,
and provided, further that in the case of an Assignment to an Affiliate the
assigning party shall promptly notify the other party in writing of such

         *Confidential portions have been omitted and filed separately with the
         Commission.

                                       -7-
<Page>

Assignment and shall remain liable (both directly and as guarantor) with respect
to all obligations so assigned. In the event of any permitted Assignment or in
the event that an Affiliate of either party shall exercise rights and/or perform
obligations hereunder pursuant to the terms of this Agreement, the assignee or
Affiliate, as the case may be, shall specifically assume and be bound by the
provisions of the Agreement by executing and agreeing to an assumption agreement
satisfactory to the other party hereto.

          8.2 Governing Law; Specific Performance. (a) This Agreement and the
respective rights and obligations of the parties shall be governed by and
construed in accordance with the internal and substantive laws of the State of
New Jersey, United States of America (without regard to principles of conflicts
of laws). The parties hereby agree that the United Nations Convention on
Contracts for the International Sale of Goods shall not apply to this Agreement
or any other document contemplated hereby. In the event of any dispute touching
or concerning this Agreement, the parties hereby agree to submit such dispute to
their respective chief executive officers or their designees by notice delivered
in accordance with the provisions of Section 8.6 hereof. Each of the parties
agrees that any suit relating to this Agreement may be brought in the courts of
the State of New Jersey or any federal court and service of process in any such
suit being made by mail at the address specified in Section 8.6. Each party
hereby waives any objection that it may now or hereafter have to the venue of
any such suit or any such court or that such suit is brought in an inconvenient
court.

     (b) Injunctive Relief. Each of the parties hereto acknowledges and agrees
that damages will not be an adequate remedy for any material breach or violation
of this Agreement if such material breach or violation would cause immediate and
irreparable harm (an "Irreparable Breach"). Accordingly, in the event of a
threatened or ongoing Irreparable Breach, each party hereto shall be entitled to
seek, in any state or federal court in the State of New Jersey, equitable relief
of a kind appropriate in light of the nature of the ongoing threatened
Irreparable Breach, which relief may include, without limitation, specific
performance or injunctive relief; provided, however, that if the party bringing
such action is unsuccessful in obtaining the relief sought, the moving party
shall pay the non-moving party's reasonable costs, including attorney's fees,
incurred in connection with defending such action. Such remedies shall not be
the parties' exclusive remedies, but shall be in addition to all other remedies
provided in this Agreement.

          8.3 Section Headings. References herein to sections and Exhibits are
to sections and Exhibits to this Agreement. The title of this Agreement and the
section headings contained herein are for convenience of reference only and
shall not define or limit the provisions hereof.

          8.4 Severability. If any term, provision, covenant or condition of
this Agreement is declared to be invalid, void or unenforceable, the remainder
of the provisions shall remain in full force and effect and shall in no way be
affected, impaired or invalidated.

                                       -8-
<Page>

          8.5 Waiver. The failure of either party to require the performance of
any provision of this Agreement by the other party shall not be deemed a waiver
and shall not deprive the party of its full right to require such performance in
the particular instance or at any other time. Any waiver must be in writing
executed by the waiving party.

          8.6 Notices. All communications in connection with this Agreement
shall be in writing and sent by postage prepaid first class mail, courier, or
telefax, and if relating to default, late payment or termination, by certified
mail, return receipt requested, telefax or courier, addressed to each party at
the address above, in the case of Biomatrix, Attn: Chief Executive Officer, with
a copy to: Justin P. Morreale, Esq., Bingham, Dana & Gould LLP, 150 Federal
Street, Boston, Massachusetts 02110, U.S.A., and in the case of Wyeth, 555 East
Lancaster Avenue, St. Davids, Pennsylvania 19087, Attn: Senior Vice President,
Global Business Development, with a copy to American Home Products Corporation,
Five Giralda Farms, Madison, New Jersey 07990, Attn: Senior Vice President and
General Counsel or to such other address as the addressee shall last have
designated by notice to the communicating party. The date of giving any notice
shall be the date of its actual receipt.

          8.7 No Agency or Franchise. This Agreement and the relations hereby
established by and between Biomatrix and Wyeth do not constitute a partnership,
joint venture, agency, franchise or contract of employment between them.

          8.8 Complete Agreement. This Agreement, the Supply Agreement and the
License Agreements embody all of the terms and conditions of the agreement
between the parties with respect to the matters set forth herein and supersedes
any and all prior or contemporaneous agreements, representations, understandings
or discussions of any kind between the parties.

          8.9 Modifications. This Agreement may not be modified or amended
except by writing which refers specifically to this Agreement signed on behalf
of both parties by their duly authorized officers.

          8.10 Other Documents The parties agree to implement this Agreement by
executing or causing to be executed such additional documents and agreements as
may be necessary to fully protect the Trademark and effectively carry out the
terms of this Agreement in accordance with applicable laws and regulations.

          8.11 EU REGULATIONS. It is the intention of the parties hereto that
this Agreement shall at all times qualify for the exemption from the provisions
of Article 85(1) of the Treaty of Rome dated 25 March 1957, as amended, which
either (a) is available under EEC Regulation Number 1983/83, or (b) may
otherwise be available under any other regulations or successor regulation
thereto. In the event that any provision of this Agreement is deemed to violate
the conditions for qualifying for the exemption, set out in whichever of those
regulations may be in effect at the relevant time, or if any such regulation is
amended after the date of this Agreement so as to cause this Agreement to fail
to qualify

                                       -9-
<Page>

for the exemption, the parties hereto agree that they will, as soon as it is
practicable to do so, enter into good faith negotiations to amend this Agreement
as necessary in order to re-qualify for the exemption or notify the Agreement.

          THE PARTIES HERETO, intending to be legally bound, have duly executed
this Agreement on the date first written above.

AMERICAN HOME PRODUCTS CORPORATION

By: /s/ Fred Hassan
  -----------------------------

Title: Executive Vice President
   ----------------------------

BIOMATRIX, INC.

By: /s/ Endre A. Balazs
  ----------------------------
Title: Chief Executive Officer
   ---------------------------

                                      -10-
<Page>

                                    Exhibit A

                                    Trademark

                                        *

          *Confidential portions have been omitted and filed separately with the
           Commission.

                                      -11-
<Page>

<Table>
          <S>        <C>                     <C>              <C>
          Country    Registration No.        Term             Expiration Date
          -------    ----------------        ----             ---------------
</Table>

                                        *

          *Confidential portions have been omitted and filed separately with the
           Commission.

                                      -12-
<Page>

                               FIRST AMENDMENT TO

                           TRADEMARK LICENSE AGREEMENT

     This FIRST AMENDMENT (this "Trademark Amendment Agreement"), is made as of
June 13, 2000 (the "Amendment Effective Date"), by and between Biomatrix, Inc.
("Biomatrix") and American Home Products Corporation, acting through its
unincorporated Wyeth-Ayerst Laboratories division (together "Wyeth") to amend
that certain Trademark License Agreement, dated as of February 7, 1997, by and
between Biomatrix and Wyeth (the "Trademark License Agreement').

     WHEREAS, Biomatrix and Wyeth entered into the Trademark License Agreement
by which Biomatrix granted to Wyeth a license to use certain trademarks owned by
Biomatrix and now the parties wish to amend certain provisions of the Trademark
License Agreement;

     NOW, THEREFORE, in consideration of the mutual promises contained in this
Agreement, and intending to be legally bound thereby, the parties hereto agree
as follows:

     1.   Capitalized terms used in this Trademark Amendment Agreement
          and not otherwise defined shall have the meanings ascribed to such
          terms in the Trademark License Agreement.

     2.   EXHIBIT A to the Trademark License Agreement is hereby deleted in its
          entirety and replaced with EXHIBIT A attached hereto.

     3.   Wyeth agrees promptly to take all such actions as may be required to
          notify any and all government agencies in any Relinquished Countries
          (as defined in the First Amendment to International License Agreement
          between the parties of even date herewith) that Wyeth is no longer a
          distributor of Products and to cause all registrations of the
          Trademark in the name of Wyeth or any affiliate of Wyeth to be
          transferred to Biomatrix or its designee

     4.   This Trademark Amendment Agreement and the respective rights and
          obligations of the parties shall be governed and construed in
          accordance with the internal and substantive laws of the State of New
          Jersey, United States of America (without regard to principles of
          conflicts of laws). This Trademark Amendment Agreement may be executed
          in several identical counterparts, each of which shall be an original,
          but all of which constitute one instrument, and in making proof of
          this Agreement it shall not be necessary to produce or account for
          more than one such counterpart.

     5.   Except as specifically modified hereby, the Trademark License
          Agreement shall remain unmodified and in full force and effect.

<Page>

     IN WITNESS WHEREOF, the parties hereto have executed this Trademark
Amendment Agreement as an instrument under seal as of the date first above
stated.

                 BIOMATRIX, INC.

                 By: /s/ Endre A. Balazs
                    ---------------------------
                 Name:  Endre A. Balazs
                 Title: Chief Executive Officer

                 AMERICAN HOME PRODUCTS CORPORATION

                 By: /s/ Egon E. Berg
                    ---------------------------
                 Name:  Egon E. Berg
                 Title: Vice President

                                       -2-
<Page>

                                    EXHIBIT A

                                    TRADEMARK

SYNVISC(R)

<Table>
<Caption>
COUNTRY           REGISTRATION NO.       TERM                 EXPIRATION DATE
-------           ----------------       ----                 ---------------
<S>               <C>                    <C>                  <C>
United States     1,418,125              20 Yrs.              November 25, 2006

Germany           1,l10,922              10 Yrs.              December 20, 1996

                  (Renewal)              10 Yrs.              December 20, 2006

Greece            127,446                10 Yrs.              July 12, 2005

CTM               Ser. No. 000338731     Published for Opposition

Turkey            180724                                      January 30, 2007

Portugal          314081                 10 Yrs.              September 4, 2006

Poland            170,078                Registration Fee Paid. To issue shortly

Czech Republic    209,939                10 Yrs.              February 24, 2007
</Table>

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