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Novoste performance and recall hit shares

This article was originally published in Clinica

Executive Summary

Fourth-quarter results that were slightly below analysts' expectations and a voluntary recall of 50 of its Beta-Cath devices due to incorrect labelling information caused Novoste's shares to drop 27% to under $8. However, the vascular brachytherapy company is bullish about the future, planning to aggressively pursue new applications of its core technology, as well as looking for new products to distribute, license or acquire. It aims to have new product lines by the end of the year.

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