Terumo Corp. (TYO:4543) said it’s ending a deal with Boston Scientific (NYSE:BSX) to distribute urological medical devices, planning to go it alone with its GlideWire device.
Part of the Japanese company’s medical device arm, Terumo Interventional Systems, announced the change this morning in a press release. Terumo said it’s planning an April 1 launch for its own direct sales, marketing, support and distribution operations for the urological business.
"This new strategy marks the end of a distribution agreement of GlideWire guidewire products to U.S. urology customers between Boston Scientific Corporation and Terumo Interventional Systems," according to the release.
"Terumo Interventional Systems is extremely excited about taking our urology business direct and we are committed to meeting the growing demands of this important customer base," TIS and Onset Medical president James Rushworth said in prepared remarks. "Combined with our recent acquisition of Onset Medical, we are poised to offer innovative access systems to the urology specialty and intend to leverage world-class technology with our existing robust distribution, supply, and service capabilities to forge strong physician relationships. Terumo Interventional Systems plans to introduce a steady stream of devices inspired by clinical performance, economic advantages, and improved quality of life for patients."
A Boston Scientific spokeswoman didn’t immediately respond to a request for comment.
It’s not the first time Terumo has jilted Natick, Mass.-based Boston Scientific. In 2006 it decided to end a distribution deal for its heart devices, according to Bloomberg.
Terumo also said it sued Vascular Solutions (NSDQ:VASC) and Chinese contract manufacturer Lepu Medical Technology, alleging infringement of the patents and trademark for its TR Band hemostasis device with Vascular Solutions’ R Band product.
"The striking similarity between Terumo’s protected TR Band device and mark and Lepu/Vascular’s infringing R-Band device and mark strongly suggests that Lepu and/or Vascular designed the R-Band device and mark by obtaining a TR Band device and blatantly copying its essential features," according to the lawsuit.
The lawsuit, filed Feb. 14 in the U.S. District Court for New Jersey, seeks a judgment of infringement, injunctions barring further infringement, infringement damages (tripled for a finding of willful infringement) and legal fees for both the patent and trademark infringement charges, according to court documents.
"Terumo has made an enormous investment in developing intellectual property and absorbing costs associated with device design and commercialization of our transradial technology. The Terumo TR Band device is a critical part of our transradial solutions portfolio. We will vigorously take all steps necessary to ensure that our assets and intellectual property are protected," Terumo’s U.S. vice president of intellectual property, Gael Tisack, said in prepared remarks.
