[Previous Months][Date Index][Thread Index][Join - Register][Login]
[Message Prev][Message Next][Thread Prev][Thread Next]

[IP] MiniMed warns Q4 to fall short, review delayed



http://famulus.msnbc.com/FamulusCom/reuters01-08-152354.asp?sym=MNMD#body

LOS ANGELES, Jan. 8  MiniMed Inc. (NASDAQ:MNMD), the leading maker of
external insulin pumps used by diabetics, warned on Monday that its
fourth-quarter revenues and earnings will fall short of estimates due to
slower sales in December.

       MiniMed also said it was notified by the U.S. Food and Drug
Administration that a pending application for a consumer version of its
continuous glucose monitoring system will be subject to an extended panel
review process. The date for the panel meeting has not yet been set.
.
.
.
.
The company had expected to launch by early this year a consumer version of
its continuous glucose monitoring sensor, which is now being used only under
physician supervision.
.
.
.
       Separately, MiniMed said it remains in discussions with Medical
Research Group Inc. over an option to acquire exclusive marketing rights to
that company's long-term glucose sensor for a payment of $30 million, which
MiniMed expects to exercise in the first quarter of 2001.
       In the event the companies are unable to conclude an agreement,
MiniMed
said it will record a one-time charge to earnings in fiscal 2000.
----------------------------------------------------------
for HELP or to subscribe/unsubscribe, contact: HELP@insulin-pumpers.org
send a DONATION http://www.Insulin-Pumpers.org/donate.shtml