Inverness Forced To Release Pregnancy Test Technology
This article was originally published in The Tan Sheet
Inverness Medical Innovations must clear a path for the introduction of a water-soluble dye technology for consumer pregnancy tests under a settlement with the Federal Trade Commission
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David Wales leaves in May after nine months as acting director of the Federal Trade Commission's Bureau of Competition, the agency says in an April 2 statement. Wales joined FTC in April 2006 as deputy director of the bureau and oversaw cases including the settlement of the Whole Foods and Wild Oats Markets merger, and Inverness Medical Innovations' alleged anticompetitive purchase of a pregnancy test technology (1"The Tan Sheet" Dec. 1, 2008, In Brief and 2"The Tan Sheet" Jan. 5, 2009, p. 14)
Inverness JV results: The first product from Inverness Medical Innovations' consumer diagnostic joint-venture with Procter & Gamble is expected to launch in the U.S. late this year following an international launch, Inverness announces during its fiscal 2007 fourth-quarter earnings call Feb. 20. In May 2007 the firms completed a joint venture to create SPD Swiss Precision Diagnostics, a business that develops, manufactures and markets diagnostic products including pregnancy tests and fertility/ovulation monitoring products (1"The Tan Sheet" Jan. 1, 2007, p. 10). During the October-December period, responsibility for U.S. sales and distribution of SPD's products was transitioned from Inverness to P&G. Inverness' consumer diagnostics business achieved sales of $29.7 million in the quarter, compared to $42.2 million in the prior-year quarter as the firm incurred $16.1 million in costs linked to the joint venture...