Given Imaging rival wins FDA approval

Olympus's capsule is used for small bowel imaging.

Gastrointestinal diagnostic company Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) has suffered a setback today with the news that its rival Olympus Corp. (TSE: 7733; DAX: OLY; Pink Sheets: OCPNY) has secured US Food and Drug Administration (FDA) approval for its "Endo Capsule" for visualization of the small bowel mucosa. This is a rival version of Given Imaging's flagship product, the SB Capsule, and is currently leading in terms of sales. Given Imaging has also launched capsules for the imaging of the esophagus and large intestine.

Market sources believe that Given Imaging will be affected in the short-term, because of Olympus's strong marketing operations, but this will be offset over time since Olympus's entry is likely to expand the market as a whole.

Given Imaging fell 4.85% in afternoon trading on the TASE. The company currently has a market cap of $723 million.

Published by Globes [online], Israel business news - - on September 18, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס Capital  Markets Conference 2017