Shares of Given Imaging Ltd., an Israeli maker of pill-sized diagnostic cameras, gained ground Tuesday after the company said it expanded its distribution relationship with Fujifilm Corp. to Japan.
Shares of Given rose 18 cents, or 1.7 percent, to close at $10.77. The stock has traded between $6.22 and $17.54 over the past 52 weeks.
Financial details of the expanded deal were not disclosed. Fujifilm already distributes the PillCam SB in other countries, including China. The companies have been collaborating on research and development since 2007.
The PillCam product is being used in conjunction with Fujifilm's double balloon endoscopy for the diagnosis and treatment of gastrointestinal disorders.
The company's other Japanese distributor is Suzuken. During the third quarter, Given experienced a shortfall in equipment sales and said it would add a second distributor in Japan. PillCam makes up the bulk of Given Imaging's revenue.
via yahoo
Shares of Given rose 18 cents, or 1.7 percent, to close at $10.77. The stock has traded between $6.22 and $17.54 over the past 52 weeks.
Financial details of the expanded deal were not disclosed. Fujifilm already distributes the PillCam SB in other countries, including China. The companies have been collaborating on research and development since 2007.
The PillCam product is being used in conjunction with Fujifilm's double balloon endoscopy for the diagnosis and treatment of gastrointestinal disorders.
The company's other Japanese distributor is Suzuken. During the third quarter, Given experienced a shortfall in equipment sales and said it would add a second distributor in Japan. PillCam makes up the bulk of Given Imaging's revenue.
via yahoo
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