Laserscope Reports Major Purchase of GreenLight(TM) Products in China
2006年3月22日 - 7:56PM
PRニュース・ワイアー (英語)
$7 Million Order for Laser Systems and Fiber Optic Delivery Devices
Marks Laserscope's Largest Ever One-Time Order for GreenLight
Products SAN JOSE, Calif., March 22 /PRNewswire-FirstCall/ --
Laserscope (NASDAQ:LSCP), a pioneer in the development and
commercialization of minimally-invasive medical devices including
medical lasers and advanced fiber-optic delivery devices, today
reported that Miracle Laser, Laserscope's distribution partner in
China, has ordered over $7 million in GreenLight PV(R) laser
systems and fiber optic delivery devices to be delivered over the
next 12 months. This order represents Laserscope's largest ever
one-time order for GreenLight products and a slight increase over
expected 2006 orders from our China distribution partner. A portion
of these lasers and fiber optic delivery devices will be used to
build a Center of Excellence program at top teaching and academic
centers in China. "We are pleased to see the commitment that
Miracle Laser has made toward helping Laserscope establish the
GreenLight PV laser system and the Photo-Selective Vaporization of
the Prostate (PVP) procedure as the new standard of care in this
very exciting market," said Eric Reuter, Laserscope's President and
CEO. "China, like many of our international markets, represents a
tremendous long term opportunity for the GreenLight product line
and PVP procedure. Miracle Laser's order represents a significant
milestone toward Laserscope's ultimate goal of replacing the
Trans-Urethral Resection of the Prostate (TURP) procedure with the
PVP procedure in the largest BPH markets worldwide, including
China. We believe that more than 100,000 TURPs are performed in
China each year and we look forward to continuing to work with
Miracle Laser to take full advantage of this market opportunity in
the future. "We expect that this order will help us gain a
widespread customer base in China, contribute to our revenue growth
in 2006 and lead to higher fiber sales and increased profit in 2007
and beyond." About GreenLight(TM) and PVP The PVP procedure is used
to treat enlargement of the prostate, clinically known as benign
prostatic hyperplasia ("BPH"). The Trans-Urethral Resection of the
Prostate procedure ("TURP") has been the leading surgical procedure
to treat BPH for many years. The primary market opportunity for the
PVP procedure is to replace the TURP procedure. Industry sources
and available data indicate that the number of TURP procedures
performed worldwide likely exceeds one million each year.
Additionally, sources indicate that the number of men using
pharmaceutical drug therapy to treat BPH symptoms is over 2.5
million annually in the United States and several times this number
internationally. The PVP procedure using the GreenLight PV laser
system and GreenLight PV single-use fiber optic delivery device has
been demonstrated to offer a relatively safe, durable, and
clinically efficacious procedure to treat BPH with minimal side
effects that can give patients quick and substantial relief from
their BPH symptoms. Urologists performing the PVP procedure apply
focused high power light energy at the 532 nm wavelength through a
small, flexible sterile fiber optic delivery device to safely,
efficiently and virtually bloodlessly vaporize and immediately
remove thin layers of the unwanted prostatic tissue to restore the
patient's urinary channel through the prostate. A PVP treatment
often results in nearly immediate symptom relief for the patient.
PVP is often done on an outpatient basis and patients often can go
home without an in-dwelling catheter the same day following their
surgery. Long term clinical data demonstrates that PVP offers
clinical outcomes equivalent to TURP, the current "gold-standard",
but with a more patient-friendly and substantially better safety
and side-effect profile. Laserscope estimates that over 125,000 PVP
procedures have been performed worldwide since the GreenLight laser
system and PVP procedure were made commercially available in 2002.
In 2005, the Company sold fiber optic delivery devices to perform
approximately 54,000 PVP procedures in the U.S. and over 19,000
internationally. "Our goal has been and continues to be for the PVP
procedure to replace TURP as the standard of care worldwide. We are
now also focused on establishing the PVP procedure using the
GreenLight PV laser system as a preferable alternative in many
cases to other less efficacious surgical solutions as well as
pharmaceutical drug therapies, and to begin to take market share
from these other therapies currently in use. Our results in 2005
show that we've achieved marked progress toward replacing the
TURP," said Reuter. "In the United States, there were about 54,000
PVP procedures performed in 2005, which we believe is somewhere
between 20 and 25% of the current TURP market and between 15 and
18% of the overall non-pharmaceutical drug surgical treatment
market in the U.S. Although international growth has been strong,
we believe penetration of the TURP market remains under 5% in many
of the largest markets outside the United States. We are working to
obtain regulatory approval in Japan, which we believe is the second
largest TURP market outside the United States. We believe Japan
represents one of several large untapped market opportunities.
Given the significant advantages that the PVP procedure offers the
patient, the physician, and healthcare systems, we believe that PVP
will continue to be adopted as a replacement for TURP for the
foreseeable future. "We have also recently heard anecdotal accounts
from some physicians domestically and internationally of patients
who have chosen to stop pharmaceutical drug therapy and instead to
seek treatment of their BPH symptoms with the PVP procedure using
the GreenLight PV laser system," continued Mr. Reuter. "Although it
is not clear whether these anecdotal accounts represent a
significant trend, they are consistent with our understanding of
the relative merits in many cases of PVP versus pharmaceutical drug
therapy. Pharmaceutical drugs usually require daily compliance for
the rest of the patient's life, are expensive, can have side
effects, and typically offer nowhere near the clinical efficacy of
the PVP procedure. Consequently, we believe that when presented
with the facts regarding their treatment options -- especially
after long-term treatment with pharmaceutical drug therapy -- many
men would prefer to have a single, durable, and substantially more
clinically efficacious procedure to treat their symptoms rather
than be dependent on a lifetime of pharmaceutical drug therapy. We
believe the relative merits of the PVP procedure using the
GreenLight PV laser system over TURP, other available surgical
solutions, and pharmaceutical drug therapy for a wide spectrum of
patients enhances the potential long term prospects for the PVP
procedure using our GreenLight products both domestically and
internationally." Special Investor Relations Forum in May
Laserscope will be holding a special Investor Relations Forum
coinciding with the 2006 American Urological Association Meeting in
May, 2006. At this meeting, Laserscope will be discussing current
and future key strategic research and development initiatives and
additionally will be unveiling the latest new additions to the
Laserscope urology product line. Investors are invited to attend
in-person or via a web-cast which will be announced prior to the
event. Those planning to attend in person should contact
Laserscope's IR representatives as attendance will be limited. Safe
Harbor Statement This press release contains forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, and is subject to the safe harbor created by
this section. These forward-looking statements include: statements
about Laserscope's future sales, profitability and operating
results, competition, expected continued momentum of Laserscope's
business and growth including new product offerings, worldwide
adoption rates of the PVP procedure using the GreenLight PV(R)
laser system, our ability to compete with similar product offerings
and other therapies for the treatment of BPH, market penetration
opportunities in international markets such as in Japan. These
statements are subject to a number of risks and uncertainties,
including: uncertainties regarding introduction of new technologies
competitive to Laserscope's products and the degree to which our
current and new products are accepted by customers, which could
affect the level of demand for our products; uncertainties
regarding the impact that competitive products and therapies as
well as private and public payer reimbursement levels for the PVP
procedure could have on the competitiveness of our current pricing
programs, which could adversely impact our financial results; our
dependence on sole source providers for key components and
products; risk of reductions in government and private insurance
reimbursement of hospitals and physicians for health care costs,
which may negatively impact hospitals and physicians decisions to
purchase our products reducing adoption rates and sales growth;
risks that we may be unable to protect adequately the integrity,
safety and proper use of our disposable fiber optic delivery device
with the GreenLight PV(R) laser system, which could result in
negative patient outcomes and reduce our disposable delivery device
recurring revenue stream; risks that patents and licenses that we
hold may be challenged, invalidated or circumvented or that we may
become the subject of intellectual property litigation;
uncertainties regarding our ability to compete with companies that
have significantly greater financial, technical, research and
development, manufacturing and marketing resources than we have;
and uncertainties that new products will receive regulatory
approval in applicable jurisdictions. Actual results may differ
materially due to these and other factors. The matters discussed in
this press release also involve risks and uncertainties described
from time to time in Laserscope's filings with the Securities and
Exchange Commission. In particular, see the Risk Factors described
in Laserscope's most recent Quarterly Report on Form 10-Q and
Annual Report on Form 10-K. Copies of Laserscope's public
disclosure filings with the SEC, including the most recent Annual
Report on Form 10-K and the most recent forms 10-Q are available
upon request from its Investor Relations Department at its website
at http://www.laserscope.com/ and at the SEC's website:
http://www.sec.gov/. Laserscope assumes no obligation to update the
forward-looking information contained in this press release. At
Laserscope: At Financial Relations Board: Eric Reuter, President
& CEO Tricia Ross Analyst/Investor Contact Derek Bertocci, CFO
(617) 520-7064 (408) 943-0636 Moira Conlon, General Information
(310) 854-8311 DATASOURCE: Laserscope CONTACT: Eric Reuter,
President & CEO, or Derek Bertocci, CFO, both of Laserscope,
+1-408-943-0636; or Analyst/Investor, Tricia Ross, +1-617-520-7064,
or General Information, Moira Conlon, +1-310-854-8311, both of
Financial Relations Board, for Laserscope Web site:
http://www.laserscope.com/
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