Utah Medical talks back
This article was originally published in The Gray Sheet
Executive Summary
FDA's public statements "have diminished the company's business through innuendo," by suggesting the firm's alleged QSR non-compliance impacts device safety and effectiveness, Utah Medical charges Aug. 30 in response to an Aug. 9 injunction suit (1"The Gray Sheet" Aug. 16, 2004, p. 6). The manufacturer denies the allegations, which date to 2001. FDA's actions have led competitors to wrongly suggest to customers the firm may be shut down, Utah Medical says. The firm concedes its "total dollar value of orders has remained about normal" in August, but adds that its own 10% customer loyalty discount, instituted Aug. 20, "may have a significant effect on net sales." Utah Medical repurchased about $3.1 mil. of stock between Aug. 1 and Aug. 17...
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