BioCentury
ARTICLE | Financial News

Cima falls after lowered guidance

November 2, 2001 8:00 AM UTC

Drug delivery company CIMA fell $18.32 (33%) to $36.69 on Friday following its announcement after market close on Thursday that the company will fall short of its fourth quarter revenue estimates of $9-$11 million. The company said the shortfall was due to lower-than-expected sales of its Remeron Soltab antidepressent, which is partnered with Organon (Oss, the Netherlands), and lower royalty revenues on its Zomig-ZMT, which is marketed by AstraZeneca (AZN; LSE:AZN) and uses CIMA's DuraSolv fast-dissolve drug delivery system. ...