St. Jude's ILUMIEN OPTIS Now in Japan - Analyst Blog
13 3월 2013 - 12:00AM
Zacks
Medical devices major, St.
Jude Medical Inc. (STJ) has launched its latest ILUMIEN
OPTIS System for the first time in Japan. This imaging technology
is an advanced version of the company’s Ilumien System from the
cardiovascular products portfolio.
The ILUMIEN OPTIS System, featuring
the unique Fractional Flow Reserve (FFR) and Optical Coherence
Tomography (OCT) platforms, provides cardiologists with
comprehensive information to take patient-specific stenting
decisions, resulting in better treatment outcomes. Additionally,
the device features a three-dimensional vessel reconstruction
technology coupled with a unique stent planning software tool,
which further enhances diagnostics and treatment strategies.
Japan is a global leader in imaging
technology utilization, according to STJ. About 245,000
Percutaneous Coronary Intervention (PCI) procedures are performed
every year in Japan, out of which, 80% use imaging technology. The
Japanese language option available with the ILUMIEN OPTIS makes it
user-friendly for the target population.
In 2012, St. Jude’s net sales in
Japan increased by 10% to $456 million. The termination of a
distribution contract in Japan adversely affected 2012 vascular
product net sales by 7% but solid sales and continued market
penetration of the Ilumien platform partially offset the decline.
Barring the impact of the contract termination, the company’s
cardiovascular revenues grew 6% in 2012.
St. Jude expects the cardiovascular
business to grow 6%–9% on a constant currency basis in 2013 on the
back of a change in sales mix from declining legacy products to
high growth offerings. We believe that the launch of the new
ILUMIEN OPTIS device in Japan should add to total sales, given its
cutting-edge features.
St. Jude has a Zacks Rank #3
(Hold). The company’s fourth-quarter adjusted earnings per share of
92 cents (up 7% year-over-year) topped the Zacks Consensus Estimate
by 2 cents.
While we remain on the sidelines
regarding St. Jude due to softness in the core Cardiac Rhythm
Management (“CRM”) business, medical products companies such as
Nuvasive (NUVA), Abaxis (ABAX)
and CareFusion (CFN) appear impressive. Nuvasive
carries a Zacks Rank #1 (Strong Buy) and the other two carry a
Zacks Rank #2 (Buy).
ABAXIS INC (ABAX): Free Stock Analysis Report
CAREFUSION CORP (CFN): Free Stock Analysis Report
NUVASIVE INC (NUVA): Free Stock Analysis Report
ST JUDE MEDICAL (STJ): Free Stock Analysis Report
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