Home Diagnostics reports revenue loss, gain in retail sales
FORT LAUDERDALE, Fla. Home Diagnostics, Inc. on Thursday posted total revenue of $24.6 million for the first quarter ended March 31, representing a decrease of 2.1%.
However, retail channel sales were up 25.2%, driven by the continued nationwide rollout of the TRUEresult and TRUE2go blood glucose monitoring systems and the rollout of TRUEtrack at Walmart, HDI stated.
“Our first quarter results are slightly better than our guidance,” stated Joseph Capper, HDI president and CEO. “While we are not satisfied with our current results, we are weathering the economic downturn substantially better than several of the larger branded companies in the industry, who reported double digit revenue declines in the first quarter. We view this as an indicator of the strength of our value offering, especially given the challenging economic environment, which we believe is driving patients to lower cost alternatives.”
In March 2009, the company received 510(k) clearance from the Food and Drug Administration for TRUEbalance, the company’s new low-cost, no-coding meter. TRUEbalance broadens the company’s no-code product portfolio to meet the specific needs of certain segments of the market. HDI anticipates launching TRUEbalance in the second quarter of 2009.
NPA criticizes remarks tying dietary supplements to tainted products
WASHINGTON The Natural Products Association on Thursday released a statement criticizing the erroneous link between legitimate dietary supplements and tainted products. “Increased scrutiny by professional sports leagues on steroid usage, which the Natural Products Association commends, has unfortunately also led to increased and unsubstantiated allegations that a ‘tainted’ or mislabeled dietary supplement is to blame when an athlete tests positive for a banned substance,” said David Seckman, NPA executive director and CEO.
“As the Dietary Supplement Health and Education Act of 1994 mandates, all ingredients must be listed on product labels and product claims must be substantiated. If this is not the case, the U.S. Food and Drug Administration—along with the Federal Trade Commission—have the authority under DSHEA to act promptly,” he said.
Seckman also noted that not all substances banned by professional sports organizations as performance enhancers are either bad or illegal. “Performance enhancers [that] are not necessarily dangerous or illegal … include caffeine, commonly used over-the-counter cold remedies and prescription medications,” he said. “Athletes have the right and responsibility to avoid their use. However, the consuming public who benefits from legitimate medications or dietary supplements – as well as a trip to the local coffee house – should not be denied their use if an athlete is unwilling or unable to follow the rules established by their sport.”
FDA hosts women’s health meeting Feb. 9
ROCKVILLE, Md. The Food and Drug Administration will be hosting a meeting on women’s health in Washington on Feb.9, according to a document slated to be published in the Federal Register on Monday.
The three-hour meeting is intended for directors of national organizations interested in discussing women’s health research and educational out reach.