UltraGreen.ai faces new competition in US market, possible pricing pressure
It previously had no competition for its ICG dye after Akorn Pharma filed for bankruptcy in February 2023
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[SINGAPORE] UltraGreen.ai will soon face competition in the US market, its largest revenue contributor, as pharmaceutical company Zydus Lifesciences secures regulatory approval for its indocyanine green (ICG) dye.
In its recent H1 2026 results, Americas made up 75 per cent or US$65.4 million of its total US$87.2 million revenue. This makes any new competition in the US market significant for UltraGreen.ai.
The company has about 83 per cent of the ICG market share in the US, said Jamal Aliyev, an independent analyst, in a report, and has benefited from substantial pricing power in the US.
