12-11-2006, 10:53 PM
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Join Date: Nov 2001 Location: Maine
Posts: 2,731
My Mood:  Points: 19,229.28 Bank: 1,165,146.68 Total Points: 1,184,375.97 |  FDA approves home hair-removal device
http://www.boston.com/business/ticke...proves_ho.html Monday, December 11, 2006 FDA approves home hair-removal device developed by Palomar and Gillette Palomar Medical Technologies Inc., a Burlington developer of light-based cosmetic treatments, has received Food and Drug Administration approval to sell a patented, light-based hair-removal device for home use. Palomar said it is the first company to receive over-the-counter clearance from the FDA for such a product, and the clearance allows the device to be sold directly to consumers without a prescription. The company's stock rose $5.94, or 11.9 percent, in early trading on the Nasdaq Stock Market this morning. "This is a significant milestone for Palomar," chief executive Joseph R. Caruso said in a statement. The device was developed with Gillette, part of consumer-products giant Procter & Gamble Co., and Palomar will receive a $2.5 million milestone payment from Gillette for winning FDA approval, Palomar chief financial officer Paul Weiner said. Plans call for Gillette to spend the next 12 months studying how the device can best be mass-produced, priced, packaged, and marketed, Weiner said. (By Chris Reidy, Globe staff) Interesting! Would be nice if it wasn't going to take 12 months though. 
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Diane (40) DH (44)
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Married 20 years April 2008
“Nobody can go back and start a new beginning, but anyone can start today and make a new ending.” - Maria Robinson
After 27 years of service, hubby retired from USN.
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Retirement ceremony May 16; official retirement date July 31. |
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