Cardinal Health (NYSE:CAH) today announced 4 new strategic distribution agreements, looking to expand its product portfolio with new coronary stents and percutaneous transluminal coronary angioplasty balloon catheters.
“In the past year, since becoming a Cardinal Health company, we have executed several key strategic collaborations that strengthen the Cordis product and solutions offering in interventional cardiology. We strongly believe that agreements like these provide the opportunity to rapidly expand our portfolio and deliver increased value to customers around the world. We will continue to explore additional opportunities to broaden the global Cordis offering,” Cordis prez David Wilson said in prepared remarks.
The Dublin, Ohio-based company said it inked a deal with Kaneka to distribute its PTCA ballon catheters in EMEA and select countries in Asia and Latin America.
Cordis will sell versions of Kaneka’s PTCA balloon catheters in Japan, Korea, Australia and New Zealand under the Neon and Neon NC names, and will distribute the Ikazuchi Rev and Fortis II under Kaneka’s brand in China. Upon receipt of CE Mark approval in the European Union and other regulatory clearances for the regions, Cordis will also distribute the company’s Ikazuchi Zero and Raiden 3 PTCA balloons under Kaneka’s brand name.
The company said it inked a deal with Meril to distribute its Mozec and Mozec NC Rx PTCA balloon dilation catheters in the U.S. and Canada. The company also signed a strategic long-term agreement with Tryton Medical to distribute its coronary side branch stent upon regulatory approval.
Cardinal Health said it expanded a current distribution agreement with Biosensors International (PINK:BSNRY) that will make Cordis the exclusive distributor of its coronary interventional products in Japan, on top of offering Biosensor’s coronary stent portfolio in 27 countries.
“With Cordis’ proud legacy of delivering innovative solutions in the cardiovascular care space and the business and operational expertise of Cardinal Health, we have established an unmatched, combined offering. Our vision is to make significant contributions to the healthcare system by bringing value-based products and solutions that our customers and their patients are seeking,” prez Wilson said in a prepared statement.
Last month, Navidea (NYSE:NAVB) said it inked a letter of intent with Cardinal Health to sell its Lymphoseek injection for up to $310 million.
The sale includes all current FDA-approved indications, as well as future oncology diagnostic indications in North America and other related assets, Navidea said. Through the deal, Navidea is slated to receive $80 million upon closing, with future considerations tied to annual sales of Lymphoseek and sales-based milestones.