J&J ends Given Imaging distribution
This article was originally published in The Gray Sheet
Executive Summary
Johnson & Johnson's Ethicon Endo-Surgery/InScope unit terminates a May 2004 pact with Given Imaging under which InScope marketed Given's PillCam ESO capsule endoscopy system in the United States for visualizing the esophagus. Given, which previously indicated that the relationship was not meeting its expectations, notes that J&J cited a "shift in its strategic priorities within gastroenterology and other areas as the reason for ending the relationship." InScope will pay Given $7.6 million in termination fees. As a result of the agreement, Given will record income of $13.5 million in the fourth quarter of 2007 and $12.5 million in the first half of 2008. InScope will continue to support reimbursement and marketing related activities for up to six months, and continue to pay for ongoing clinical trials associated with esophageal diseases, Given says. Given will continue to market the device on its own (1"The Gray Sheet" May 17, 2004, p. 22)
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