November 8, 2016
Seikagaku Corporation (“Seikagaku”) (head office: Tokyo, Japan) today announced that it has entered into an exclusive distributorship agreement in the United States for VISCO-3™, a hyaluronic acid based viscosupplement product which requires three injections for the treatment of knee osteoarthritis pain, with Zimmer Biomet Holdings, Inc. (“Zimmer Biomet”) (head office: Warsaw, Indiana, U.S.A.).
As an aging population is growing in the U.S, expansion of the market for viscosupplement products is expected to continue. The market supports products with different numbers of injections, which are used according to the diverse needs of physicians and patients. Zimmer Biomet has sold Gel-One®, a single-injection viscosupplement product manufactured by Seikagaku, in the U.S. since 2012. With the conclusion of this agreement, Zimmer Biomet adds VISCO-3™ to its product line.
Seikagaku will have a line of products with three different numbers of injections, whole type of injection product, after the introduction of VISCO-3™ in the U.S. market, in addition to the existing Gel-One® single-injection treatment and SUPARTZ FX® five-injection treatment. In its role as the manufacturer of VISCO-3™, Seikagaku will continue to work to increase the presence of its products in the U.S., a key region in the growth strategy, by supporting the sales activities of the sales partner through the provision of academic information and measures to enhance the added value of products.
The impact of this matter on the consolidated financial results for the fiscal year ending March 31, 2017 will be minor and has been taken into account in the revised forecast of consolidated financial results disclosed on November 8, 2016.
< About VISCO-3™, a three-injection viscosupplement product > VISCO-3™, an injectable treatment the active ingredient of which is hyaluronic acid, was approved by the U.S. Food and Drug Administration (FDA) in December 2015 as a medical device indicated for knee osteoarthritis. It is a three-injection kit product for administering a three-dose treatment cycle (three doses given once weekly). Knee osteoarthritis is a disease characterized by the degeneration of articular cartilage and consequent swelling and pain. Injection of hyaluronic acid is a therapy used to curb the progress of symptoms.
< About Zimmer Biomet Holdings, Inc. > Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. Zimmer Biomet designs, manufactures and markets orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; office based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products. In the field of viscosupplement products, Zimmer Biomet is the sales partner in the U.S. for Gel-One® , Seikagaku’s single-injection product.
< Cautionary Notes > This press release contains forward-looking statements regarding future management strategies or performance forecasts. These statements are based on judgments derived from information that is currently available to Seikagaku and are subject to risk and uncertainty. Actual results and developments may differ significantly from these forward-looking statements due to various factors. Information about pharmaceutical products or medical devices (including products currently in development) included in this press release is not intended to constitute an advertisement or medical advice.