Micrus Endovascular enters Japan
This article was originally published in The Gray Sheet
Executive Summary
Japan's Ministry of Health, Labor & Welfare (MHLW) clears firm to sell MicruSphere, HeliPaq and InterPaq embolic coils to treat cerebral aneurysms. The firm hopes to convert the Japanese market from craniotomy - used on 75% of aneurysms - to coiling. According to Micrus, nearly one third of all interventional cerebral vascular disease treatment revenue comes from Japan. Following the clearance, the firm announced that it would work with Japanese distributor Goodman to clear further products in Japan, including the Cerecyte microcoil. The firm also plans to enter the Chinese market by June. One year ago, the firm noted that it would use proceeds from its $57.5 mil. initial public offering to break in to the Japanese market (1"The Gray Sheet" March 14, 2005, p. 31)...