Conceptus (CPTS) Ceases Promotion of Gynecare Thermachoice; Reaffirms FY11 Outlook
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Price: $31.02 --0%
Financial Fact:
Net income (loss): 1.86M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Net income (loss): 1.86M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Conceptus, Inc. (Nasdaq: CPTS), has decided to discontinue its promotion of the GYNECARE THERMACHOICE Uterine Balloon Therapy System to U.S. OB/GYN physician offices. The product is manufactured for and marketed by ETHICON Women's Health and Urology, a division of Ethicon, Inc. The Company's promotion agreement with Ethicon was announced in November 2010 and is subject to a six-month advance notice of termination.
Conceptus also announced a reduction in its U.S. field sales organization of approximately 15%, in part to address this more efficient redeployment of its efforts.
The Company also reaffirmed its 2011 net sales and adjusted EBITDA guidance previously announced on December 8, 2011 and December 19, 2011, respectively.
Conceptus also announced a reduction in its U.S. field sales organization of approximately 15%, in part to address this more efficient redeployment of its efforts.
The Company also reaffirmed its 2011 net sales and adjusted EBITDA guidance previously announced on December 8, 2011 and December 19, 2011, respectively.
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