Varian Medical Systems (NYSE:VAR) is touting a pair of regulatory wins for the next generation of its Vitesse brachytherapy treatment for prostate cancer.
Palo Alto, Calif.-based Varian received 510(k) clearance from the FDA and CE Mark approval in the European Union for the latest version of Vitesse, which company officials said reduces the complexity and number of steps involved in planning and completing brachytherapy treatment for prostate cancer. Brachytherapy involves delivering radiotherapy from inside the body by placing a tiny radioactive source directly into the tumor.
"[The treatment] eliminates the need for a data transfer to another software program, and avoids moving the patient to a CT scanner for images in the middle of the procedure. For these reasons, most clinicians will see a reduction in the amount of time needed to complete these treatments, often by as much as an hour and a half," marketing manager Tim Clark said in a prepared release.
Varian also announced this week that profits jumped nearly 6% during the 1st quarter of 2013 to $95.3 million, or 86¢ per share on $678 million in sales. During the same period last year, Varian posted a $90.2 million, or 79¢ per share profit on $625 million in sales.
The company’s bottom line was impacted by a $4.1 restructuring charge, which officials attributed to "an enhanced retirement program."
Varian officials also projected a 8%-9% increase in sales for 2013, with net earnings expected in the range of $4.08 to $4.16 for the year.
