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Biosensors Reports Financial Results for the Third Quarter of Fiscal Year 2013
Date:2/7/2013

t, including regulatory imposition and new products from competitors, licensing revenue from Terumo Corporation (Terumo) for the sales of the Nobori DES was adversely affected in the first nine months of the fiscal year. As such, management is adjusting its guidance for total revenue for the fiscal year ending 31 March 2013 (FY13) to a 15% to 20% growth over FY12, driven by continued strong DES revenue growth in the key markets managed by the Company, but offset by a decrease in licensing revenue.

"We will leverage our experience in the international markets, along with the positive clinical results we achieved, to work closely with Terumo to strengthen Nobori's competitive position in Japan, aiming at increasing the product's market share and our royalty revenue. In China, we have seen that the tendering process has accelerated, which will inevitably create some short-term disruptions. However, this will remove the overhanging uncertainty on the future of this important market. At the same time, we will also introduce new products to improve our overall sales revenue in China. For the rest of the world, we continued to perform well in Europe and Asia Pacific, with strong year-on-year growth outpacing the market," said Dr. Wang. "During the quarter, we successfully raised approximately US$240 million from the bond offering. Coupled with our existing financial resources, we accumulated more than US$570 million of cash and cash equivalents. We are in various stages of discussions with several potential M&A targets, some of these discussions being near completion. We believe these possible transactions, once concluded, can further expand our product offering. Such efforts can substantially increase our shareholder value and take Biosensors to the next level."

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