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SELFCARE OTC ELECTROCHEMICAL BLOOD GLUCOSE MONITOR KIT 510(k) PENDING AT FDA; COMPANY ANTICIPATES $29.2 MIL. IN NET PROCEEDS FROM INITIAL PUBLIC OFFERING

This article was originally published in The Gray Sheet

Executive Summary

Selfcare submitted a 510(k) in late May for its over-the-counter electrochemical blood glucose monitor kit, the firm says. The test kit will be marketed by Johnson & Johnson subsidiary LifeScan under a November 1995 worldwide alliance with Waltham, Massachusetts-based Selfcare. LifeScan, the leader in the OTC blood glucose test market, does not currently market an electrochemical test. Selfcare outlines plans for the product in a May 17 preliminary prospectus for an initial public offering.
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