Japan Lifeline Terminates Exclusive Distribution Agreement for Drug-Eluting Coronary Stent
Japan Lifeline Co., Ltd. ("the Company") announced today that at the Board of Directors meeting held today, it has determined to reach an agreement with BIOTRONIK AG and Biotronik Japan K.K. (hereinafter collectively referred to as "Biotronik") regarding the early termination of the three-way exclusive distribution agreement in Japan for the drug-eluting coronary stent "Orsiro" by bringing it forward from the end of March 2023 to the end of June 2022.
The Company entered into an exclusive distribution agreement with Biotronik in February 2017. It has been selling the product since March 2018 and has received a certain level of appreciation for the product performance from medical professionals. However, due to the severe competition in the market as well as the decline in reimbursement prices and the decrease in the number of cases due to the spread of the new coronavirus, sales continued to fall short of the plan and profitability declined. Given these circumstances, the Company has held discussions with Biotronik regarding the early termination of the contract and has reached agreement.
Although the exclusive distribution agreement will expire at the end of June 2022, the Company will continue to supply the product to medical institutions after the end of the agreement period, with a limited number of sales facilities, as long as the Company retains inventory of the product.
The Company will further expand its business foundation by allocating management resources not only to the cardiovascular space, where the Company already has strengths, but also to new spaces such as the gastrointestinal to achieve sustainable growth and increase corporate value.
The Company expects the impact of this matter on its consolidated financial results for the fiscal year ending March 31, 2022 to be minimal.
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JLL - Japan Lifeline Co. Ltd. published this content on 25 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 06:41:07 UTC.
Japan Lifeline Co., Ltd. is a Japan-based company mainly engaged in the import, manufacture and sale of cardiac circulators and other medical devices. The Company is mainly engaged in the production of rhythm devices, electrophysiological (EP) and ablations, surgical products and intervention products. The rhythm devices include cardiac pacemakers, implantable cardioverter defibrillator (ICD), cardiac resynchronization therapy defibrillator (CRT-D) and other rhythm devices. The EP and ablations include EP catheters for cardiac arrhythmia examination, ablation catheters for arrhythmia treatment and other EP and ablations. The surgical products include prosthetic heart valves and annuloplasty rings for heart disease surgical treatment, vascular grafts, open stent grafts and stent grafts for aortic disease treatment, as well as other surgical products. The intervention products include balloon catheters, guide wires, penetration catheters and other intervention products.
JAPAN LIFELINE CO., LTD. 
