Biosensors in pact with Cardinal Health on stent sales


Singapore-based Biosensors International has signed a distribution pact for its drug-eluting stent products with U.S.-based Cardinal Health ($CAH)--initially targeting markets in Europe, Australia and New Zealand.

The particular products covered include a polymer free drug-coated stent branded as "BioFreedom" aimed at patients that face a high bleeding risk, as well as BioMatrix NeoFlex and BioMatrix Alpha.

Cardinal Health's interventional vascular unit, Cordis, will handle sales in the initial markets and look to expand over time.

In January, a Biosensors unit in Singapore denied a report it refused a U.S. FDA inspection that resulted in an import alert, saying it missed a deadline to respond and had resolved the issue.

The company, which also makes angioplasty balloons and blood pressure transducers among other items, had been listed on the Singapore Stock Exchange until last year.

In November 2015, Citic Private Equity Funds Management, an early investor, paid SGD$1.1 billion ($787 million) to take the firm private.

"The agreement between Biosensors and Cardinal Health is an important milestone in our continuing strategy to deepen our market penetration and expand as well as diversify our product offering," said Jose (Pepe) Calle, group CEO of Biosensors.

In 2015, Biosensors started sales of its BMX-J drug-eluting stent system in Japan.

- here's the release