In Brief: UroMed
This article was originally published in The Gray Sheet
Executive Summary
UroMed: Corporate restructuring is anticipated to include a reduction of 32 employees from the firm's 188-person work force, the firm states in a June 2 release. The cuts are part of an effort to reduce operating costs at the company, which has suffered from "significantly slower" than anticipated market acceptance of its Reliance urinary control insert for female urinary stress incontinence following FDA approval in August 1996 ("The Gray Sheet" Aug. 26, 1996, p. 3). John Simon, chairman and CEO, notes the firm expects to update investors on "a number of significant product activities before the end of the calendar year"...