Despite an increase in Japan's consumption tax, Osaka-based Nipro was still able to increase the value of its medical device sales 7.4%, to 237.8 billion yen (nearly $2 billion), during the fiscal year ended March 31. Overall, sales were up 8.1% to 325.1 billion yen ($2.7 billion) for the company, which also makes glass and pharmaceutical products.
In Japan, sales and profits of vascular products, including drug-eluting balloon catheters, increased. Sales of dialysis products such as dialyzers were strong. Nipro is focused on expanding its product portfolio and opening up new sales channels in the dialysis market. That includes North America, where Nipro already established a strategic presence.
Diabetes products make up just 14% of its medical device business. But Nipro is showing some innovation in the space. Its Nipro Diagnostics business announced in April that U.S. FDA had cleared its True Metrix Air self-monitoring blood glucose system, which can deliver blood glucose data wirelessly to a smartphone.