Closure
This article was originally published in The Tan Sheet
Executive Summary
Manufacturer of Johnson & Johnson/Ethicon's Liquid Band-Aid expects to launch line extension treating finger cracks before the end of 2003, company states. Closure also plans to launch one other product in the line in 2003, CEO Daniel Pelak says during 2004 guidance call Nov. 20. The extension likely will treat acne or itching (1"The Tan Sheet" Oct. 6, 2003, In Brief). Regarding a third product that the firm had planned on shipping before year-end, Pelak reports its launch timetable "has been slowed [until next spring] due to additional questions" by FDA. Liquid Band-Aid products will become available in 15 European countries in 2004. Closure expects Liquid Band-Aid products to comprise 20% of its 2004 revenues, which are projected to rise 34% from 2003 revenues to between $45 mil. and $47 mil. Liquid Band-Aid products made up roughly 15% of 2003 revenues. Net income next year is expected to be $9.7 mil. to $10.5 mil., the firm says...