Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) has obtained insurance indemnification in Japan for its PillCam Patency Capsule for use with PillCam SB (small bowel) and for the PillCam SB video capsule. Japan's Ministry of Health, Labor and Welfare has issued reimbursement codes for the procedures for expanded indications for patients with known or suspected small bowel disease, including the visualization and diagnosis of Crohn's disease. The PillCam SB may now be used as a first line tool without the need for upper or lower endoscopy.
The indemnification will cover Japan's entire 105-million adult population as of July 1, 2012. Given Imaging is the only company offering the PillCam Patency Capsule to gastroenterologists in Japan.
Given Imaging president and CEO Homi Shamir said, "Reimbursement for expanded PillCam SB indications in Japan represents one of the broadest PillCam SB coverage policies in the world."
Given Imaging's share price rose 1.2% at the opening on Nasdaq to $16.95, giving a market cap of $520 million, after rising 0.2% on the TASE to NIS 67.30.
Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012