Terumo Corporation (TSE: 4543) today announced its status regarding the novel coronavirus disease (COVID-19).
Terumo is keeping its operation as a whole, though some of Terumo's 31 manufacturing facilities in the world are impacted because of the lockdown measures in each country. The company is carrying out various countermeasures to minimize the risk of delays in supply chain due to decreasing logistics availability.
With responsibility as a global medical device company, Terumo ensures to act upon the following 3 key policies to confront COVID-19 - in line with Terumo's Group Mission, Core Values and Business Continuity Plan Policy.
1. To protect the health and safety of all Terumo Associates with utmost priority. 2. To maintain a stable supply of products to continuously meet global healthcare needs. 3. To actively engage and contribute to the prevention and treatment of the disease, by maximizing Terumo Group's expertise and technologies.
At Terumo's manufacturing sites across the world, Terumo Penpol, a facility in Thiruvananthapuram, Kerala, India, is closed from March 25 to April 15 due to the 21-day lockdown imposed in India. The facility produces manual blood bag sets. Terumo confirmed that inventory levels are sufficient to meet customer needs during the lockdown. The company has sufficient amount of raw material reserved, and intends to begin production at normal levels once it is ready to restart.
Terumo Philippines, a facility in Laguna, Philippines, has low production output due to the lockdown. The facility produces products such as syringes and needles. The lockdown started on March 15 and is scheduled to end on April 13. Although the company is currently maintaining a certain level of inventory, the company is also seeking actions to sustain product supply even if the lockdown period is extended. Further information will be announced when there is an update on the situation.
From January, Terumo has ramped up production of clinical thermometers and extra-corporeal membrane oxygenation (ECMO) systems used for the treatment of severe pneumonia, to meet the needs of medical settings.
In response to the growing global risk, each of Terumo's sites has implemented strict countermeasures. Some examples of these countermeasures are; restriction of movement between business locations, requesting associates to work from home, and staggering work shift times. Terumo is carrying out various countermeasures to minimize the risk of associates contracting the disease and to maintain business continuity.
Terumo Statement Regarding Production (COVID-19) (March 12, 2020)Terumo Responds to the Novel Coronavirus Outbreak in China (February 4, 2020)
Terumo (TSE:4543) is a global leader in medical technology and has been committed to "Contributing to Society through Healthcare" for nearly 100 years. Based in Tokyo and operating globally, Terumo employs more than 25,000 associates worldwide, to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been bolstering healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice. Terumo will further strive to be of value to patients, medical professionals, and society at large.
(Notice) Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts on projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The market share information in this press release is partly derived from our own independent research.
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