Abaxis, Abbott in Distribution Agreement
Abaxis (NASDAQ: ABAX) today announced the Company has signed an exclusive multi-year distribution agreement with Abbott's (NYSE: ABT) Point of Care business to market and distribute the Piccolo Xpress, a portable clinical chemistry system and its full line of one-time use reagent discs to the human medical market.
Under terms of the agreement, Abbott will have the exclusive right to distribute and sell in the U.S. and China (including Hong Kong) Abaxis' Piccolo Xpress chemistry analyzer and associated consumables in the professionally attended human healthcare market. Abaxis will retain the distribution rights to current customer, Catapult Health and certain segments including pharmacy and retail store clinics, shopping malls, contract research organizations (CROs), and cruise ship lines. Abaxis will provide technical support and warranty services to support Abbott's commercial efforts.
Clint Severson, chairman and chief executive officer of Abaxis, said, "We are extremely pleased to have formed a strategic partnership with Abbott to sell and distribute our Piccolo Xpress