Shares in cancer treatment developer Sirtex Medical have plunged after it downgraded its sales forecasts.
The company expects sales of its lead product, SIR-Spheres Y-90 resin microspheres, to rise by between 15 and 17 per cent in the 2015/16 financial year.
That's weaker than the average growth of 19.7 per cent achieved in the previous five years.
The product is a targeted radiation therapy for liver cancer.
Sirtex said sales had been weaker than anticipated in Europe, the Middle East, Africa and the Asia Pacific region, offsetting strong growth in the Americas.
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Temporary supply disruptions, delays to product reimbursement and the later than anticipated publication of a clinical study in a medical journal affected sales, it said.
The company's shares dropped $2.26, or 7.2 per cent, to $29.24.
"While we are disappointed we will be unable to achieve our FY16 guidance on dose sales growth, it is important to recognise the impacts on the business outside of the Americas are timing related," chief executive Gilman Wong said.
