Varian Halcyon System Gets 510(k) Approval From The FDA
Zacks Investment Research | Jul 04, 2017 08:07AM ET
Palo Alto, CA-based manufacturer of medical devices and software, Varian Medical Systems, Inc. (NYSE:VAR) recently announced the 510(k) approval for its Halcyon system. The Halcyon radiotherapy treatment system has been designed to offer cost-effective cancer care worldwide. In June Varian showcased the Halcyon system at the 2017 DEGRO meeting, the German radiation oncology society, in Berlin.
The Halcyon system streamlines every aspect of image-guided volumetric intensity modulated radiotherapy (IMRT). The system has received both 510(k) clearance and a CE mark from the European directive. Notably, Varian can initiate the selling process of the Halcyon system in the U.S. However, the system requires Eclipse 15.1.1 planning software, which is currently pending for a 510(k) approval.
Halcyon system has a user-friendly design and it automates, streamlines and simplifies almost every aspect of cancer treatment. Per management, the system offers treatment for prostate, breast, head & neck, and most other forms of cancer.
We note that the global radiotherapy market is expected to reach a worth of $7,544.8 million by 2020, at a CAGR of 6.2%. Taking the bountiful prospects in the global niche space into consideration, the latest development should boost investor confidence.
Price Movement
Varian has a Zacks Rank #2 (Buy).
The company has had an impressive run on the bourse over the last one month. Varian has gained almost 1.02%, higher than the Zacks classified Zacks Investment Research
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