Everest Medical
This article was originally published in The Gray Sheet
Executive Summary
Seeking financing "from numerous corporate and private sources" to continue operations, the firm notes in a Jan. 22 release announcing that losses for fourth quarter (ended Dec. 31) "were significantly higher than anticipated and have had a greater than expected negative impact on the company's cash position." Cash and short-term investments at the close of the year are estimated to total $726,196. The minimally invasive surgical instrument manufacturer expects to report a loss of $1.2 mil. for the quarter and $3.9 mil. for the year, compared to losses of $879,000 and $3.4 mil. for the comparable year ago periods, respectively. Sales are estimated to be $729,000 for the quarter, up 44%, and $2.3 mil. for the year, an advance of 84% from 1991. The firm notes that revenues got a boost from demand for its newly released bipolar forceps and scissors ("The Gray Sheet" March 16, 1992, I&W-7), but expenses were higher than anticipated due to "a significant write-down of obsolete inventory, manufacturing start-up expenses and reduced initial production yields of the new bipolar scissors, and production difficulties with a coagulating probe manufactured for another firm." Final sales and earnings results will be released in mid-February....
You may also be interested in...
EU Regulatory Assessors Get AI Boost In Reaching Scientific Decisions
The European Medicines Agency is training scientific staff working for the European medicines regulatory network in how to use a new AI-powered search engine that allows them to easily retrieve information on regulatory precedents.
EU Parliament Stricter Than Council On Medicines And Medical Devices Packaging
The EU Parliament's Environment, Public Health and Food Safety committee takes a compromise position with regards to the Packaging and Packaging Waste Directive. Medicines and medical devices should be exempt, but only until 2035, at which point the European Commission should check whether the development of materials and the recycling process have progressed, and may adjust this exemption accordingly.
Stay Or Exit? Global Health Players Ponder New China Trajectory
It's again the time of year when global CEOs descend on China's capital to discuss strategies. This year, however, the mood is different.