In the summer of 1993 the employees at Boston-based Cytyc Corp. were flying high. In June, a Food and Drug Administration advisory panel had recommended that the agency approve the company’s new automated method of preparing Pap smear samples. They were close to what has long been the holy grail of cytology—automation of all or part of the Pap smear process.
The market opportunity looked great: Pap smears are one of the highest volume tests and the most effective method of...
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