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Respironics Raises UK Profile: Distributor Purchase Yields Drug Delivery Tech

This article was originally published in The Gray Sheet

Executive Summary

Respironics' planned integration of UK distributor Profile Therapeutics includes access to Profile's Prodose inhaled aerosol drug delivery technology

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Banc Of America Securities Health Care Conference In Brief

Abbott predicts slow CGMS uptake: Abbott/TheraSense's FreeStyle Navigator continuous glucose monitor system (CGMS) is expected to experience a "gradual build-up" in the diabetes market upon FDA approval, since diabetics "have a fair amount of loyalty to their monitors and to their strip technology," CFO Thomas Freyman tells Banc of America Securities Health Care Conference attendees May 19 in Las Vegas. The system will "probably make the most inroads with newer diabetics." Abbott previously predicted approval of its November 2003 PMA submission by early 2005; competitors will include Medtronic's approved Guardian CGMS (1"The Gray Sheet" Feb. 16, 2004, p. 14)...

Respironics

Expansion of the firm's Japan presence via acquisition of respiratory home care and hospital product provider Fuji RC for $12 mil. in cash is announced May 31. The deal includes assumption of about $11 mil. in debt and provisions for additional payments based on operating performance over the next four years. The Japanese firm will add about $15-18 mil. to Respironics' annual revenues and be "modestly accretive" to earnings, adding about $0.01 per share in the second half of fiscal 2003, Respironics notes...

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