Looks good! News item from Reuters:
Rochester Medical sets October FemSoft launch
By Susan Nadeau
CHICAGO, May 14 (Reuters) - Rochester Medical Corp. <ROCM.O> said on Friday it expects to launch in October its FemSoft insert to treat stress urinary incontinence, a condition that affects 6.6 million women in the United States.
Anthony Conway, Rochester's president, chairman and chief executive, said in a telephone interview the medical device company is increasing its sales force and is geared for production.
Conway said the product could lead the company to profitability for the first time since he and two partners founded Rochester Medical in 1988.
"It's a very important problem," Conway said, referring to stress urinary incontinence, which is the involuntarily leaking of urine caused by pressure on the bladder. The FemSoft insert is a small, single-use liquid-filled device that a woman inserts into her urethra.
Recently released clinical data showed that of 70 women, 82 percent reported virtually no leakage when using FemSoft and 94.8 percent wanted to continue to use the device, Conway said.
FemSoft will be available by prescription and will likely cost about $1.50 per insert, he said. Women use 1.4 devices a day, covering about six hours, he said. Rochester Medical expects insurance companies to cover FemSoft.
For every 1 percent of the 3.5 million women who Conway said could use the device, the company would bring in $25 million to $30 million in revenues. Rochester Medical has production capacity to support FemSoft sales of $60 million annualy, he said.
In fiscal 1998 ended in September, Rochester Medical posted sales of $9.5 million.
Conway said Rochester Medical has $15.5 million cash on hand, with a sales staff of 10, up from six a year ago. Conway said he expects to have 15 to 20 sales reps by year-end.
END |
