Akorn Receives Approval for Alternate ICG Manufacturing Site
TORONTO, Oct. 4 /PRNewswire-FirstCall/ - Novadaq(R) Technologies Inc. (TSX: NDQ), a developer of real-time medical imaging systems and image guided therapies for the operating room, today announced has received a sufficient supply of ICG to immediately resume normal business operations. Akorn, Inc. (Buffalo Grove, Ill) currently the exclusive suppliers of indocyanine green (ICG) in the United States (US) announced on September 26, 2007 that they had have received a long awaited approval for their alternate ICG manufacturing site from the US Food and Drug Administration (FDA). The approval resolves all issues related to the short supply of ICG, which has adversely affected all users of ICG since March of 2007.
"As expected, the time it took to secure the new supply of ICG did break some of our momentum. Some of our customers chose to wait to place orders until the new ICG was introduced," said Dr. Arun Menawat, President and CEO. "However, now that we have resumed our normal operations our sales team is executing on the pipeline of new potential installs and I am pleased with their progress".
Novadaq understands that a second supplier of ICG plans to enter the US market before the end of 2007 which should further reduce the future risk of short supply. Novadaq's policy is to where ever possible secure more than one supplier for any of its products such as the SPY System, where two suppliers are qualified and currently able to deliver devices.
About Novadaq Technologies
Novadaq Technologies Inc. (TSX: NDQ) develops and commercializes
medical imaging systems and real-time image guided therapies for use in the
operating room. Novadaq's proprietary ICG imaging systems can be used to
visualize blood vessels, nerves and the lymphatic system during a variety
of surgical procedures. Novadaq's SPY(R) Imaging System, commercially
available worldwide, enables cardiac surgeons
|SOURCE Novadaq Technologies Inc.|
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