UltraGreen.ai to tailor response to US rivals’ pricing and distribution
Its CEO remains confident in its long-term strategy, competitive position and prospects
UltraGreen.ai, a company that produces indocyanine green (ICG) products used for fluorescence-guided surgery, plans to tailor its commercial response to the upcoming US competition, according to its CEO Ravinder Sajwan. Sajwan stated that while competition is not new to the company, it is premature to speculate on the potential impact of the new entrants in the US ICG market.
The company's CEO noted that the recent regulatory approvals obtained by competitors such as Zydus Lifesciences and Provepharm have raised concerns among shareholders. In August, The Business Times reported that UltraGreen.ai faces potential competition in the US market following the approval of Zydus Lifesciences and Provepharm.
This could negatively affect the company, as the Americas accounted for 75% or US$65.4 million of its 2026 first half-year revenue of US$87.2 million. Shares of UltraGreen.ai fell 49.6% in the week, closing at US$0.635 on August 21, and DBS Group Research lowered its target price to US$0.80, downgrading its recommendation from "buy" to "hold."
However, Sajwan remains confident in the company's long-term strategy, competitive position, and prospects. UltraGreen.ai is also exploring new opportunities beyond its existing ICG products, with its Platform approach combining dye, imaging, and software enabling future growth. The company has completed the European Medical Device Regulation conformity assessment for PerfusionWorks and is now pursuing US FDA clearance.
The firm has established a regulatory footprint in over 43 countries across Europe, the Middle East, and Asia.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
