Novoste no more?
This article was originally published in The Gray Sheet
Executive Summary
Last remaining player in vascular brachytherapy market retains Asante Partners LLC to assist "efforts to identify and implement strategic and financial alternatives." They include a possible "merger, business combination or other disposition of its business or assets," the firm explains Oct. 14. The market for Novoste's Beta-Cath brachytherapy system to treat in-stent restenosis has declined rapidly since the introduction of drug-eluting stents. The firm booked revenues of $5.8 mil. in Q2 (ended July 22), down from $17.6 mil. for the 2003 period (1"The Gray Sheet" April 26, 2004, p. 7)...
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