italian guidelines, page-12

Off hand I cant recall any instance when the company wrongly advised the market on

1. likely aproval (sic) times,
2. product take up rates and
3. cash flow projections

At all times the company has stressed that such matters as approval times were out of their control eg Japan QFT-GIT approval "Whilst estimating time to approval is inexact at best, we are hopeful that the end of 2008 is a realistic timeframe."

The FDA have apologised to CST for the delay taken in approving QFT-GIT

With regards to revenue, comments such as "Strong quarter on quarter growth" and "Sales are starting to reflect our success" are hardly misleading.