Quarterlies Round-Up: Varian maintains progress as Rita Medical sees improvements
This article was originally published in Clinica
Cholestech's first quarter revenues were negatively impacted by the company's decision, announced at the end of fiscal 2004, to eliminate quarter-end discounts for distributors that make large volume purchases. The Californian diagnostics developer believes that sales to its product distributors are now normalised with sales to end-users and expects revenue growth in excess of 10% for the remaining nine months of fiscal 2005. The company is also expecting a further boost to its cholesterol and diabetes franchises from January 2005 onwards, once the US Prescription Drug and Medicare Improvement Act of 2003 is implemented, and reimbursement for cholesterol and diabetes screening will be provided.