Senseonics Holdings, Inc., a US-based medical technology company, has reportedly announced the extension of its distribution agreement with Roche Diabetes Care based in Indianapolis, USA. The agreement has now been extended up to 31st of January 2021.
As per the extended agreement, Senseonics will continue to see Roche as its exclusive distributor in the Middle East, Europe, and Africa. The agreement expansion will be offering exclusive distribution rights to Roche in select markets in about 17 additional countries including India, China, Brazil, and Russia as well as in select markets in the Latin American and Asia Pacific regions.
For the record, Roche Diabetes Care, which works as a subsidiary of Roche Holding AG, is focused on diabetes management and develops and commercializes a long-term and implantable CGM (continuous glucose monitoring) system for diabetic people.
Tim Goodnow, the CEO & President at Senseonics, was reported saying that the company is excited about the ongoing, incremental commitment from Roche, both in terms of volume and geographic expansion. He further said that the positive reception of the Eversense® CGM System in Europe validates that clinicians and patients are experiencing the CGM system’s transformative potential.
Mr. Goodnow also revealed that the company is looking forward to its expanded relationship with Roche in which it has promoted market expansion, with volume and access in new and existing countries, a strategic priority.
Sources cite that Senseonics secured significant accomplishments in 2018, which comprised the introduction of Eversense in the US and the extended life Eversense® XL system in Europe. The US launch has been receiving encouraging feedback from patients and is inspiring the company more through the life-enhancing benefits that its products offer to diabetic people, added the sources.
Reportedly, Senseonics has recently revealed preliminary revenue results for 2018’s fourth quarter and the full year. The company expects the unaudited preliminary revenue to be $19.7 million for the full year 2018 and $8.0 million for its fourth quarter.