SHANGHAI, April 26 /PRNewswire-Asia/ -- Biosite's Triage
products imported by Inverness Medical Beijing Co., Ltd. in
April 2010 have been seized by
Beijing Customs for not complying with the applicable importation
regulations. As a result, the Chinese market is facing a severe
shortage.
According to Beijing Customs, the Inspection and Quarantine
Bureau of Beijing Customs raised questions regarding the propriety
of the importation documents submitted by Inverness Medical
Beijing, and subsequently seized all products imported at issue.
Beijing Customs did not provide a clear timetable regarding when it
will release these products. This news caused renewed concerns in
the Chinese market, as distributors and end-users worry that the
disruption in the supply of Triage products will adversely affect
their use in hospitals. Currently, there is not much inventory left
in the market, and it is estimated that the existing inventory can
only last about a week. Some hospitals have already run out of
Biosite products. Once a hospital runs out of Biosite products, it
will be forced to use alternative products from other
manufacturers.
In 2009, the total sales of Biosite products distributed through
Chinmax Medical Systems, Inc. reached US $20
million. In particular, the Triage BNP test product is the
best selling product in the heart failure diagnostics market in
China. The dispute with Chinmax
and the customs seizure has opened the door to Biosite's
competitors, e.g. Roche, Abbott, Bayer/Siemens, BioMeuriex etc.
Biosite Incorporated is a worldwide pioneer in cardiac
biomarkers based in San Diego,
California, USA. Biosite was acquired by Inverness Medical
Innovations, Inc. (NYSE: IMA) in June
2007. Chinmax Medical Systems, Inc., a leading distributor
of clinical diagnostics in China,
has been distributing Biosite products since 1999. On January 28, 2010, Chinmax filed suit in
Shanghai regional district court
against Inverness Medical Beijing (IMB), the Chinese subsidiary of
Inverness Medical Innovations, claiming IMB infringed on Chinmax's
exclusive distribution rights in China.
SOURCE Chinmax Medical Systems, Inc.