Abbott and GE have scrapped a deal that would have sent Abbott's diagnostic businesses to GE for $8 billion. The firms could not agree on final terms, reports Reuters News. Abbott, like Bayer before it, wants to sell its diagnostics business because it doesn't have the growth potential that its pharmaceutical business does. But if GE won't buy it, who will? Siemens is reeling from the fallout over a bribery scandal. Most other diagnostics companies aren't big enough to even contemplate such a deal.
July 12th, 2007
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Transforming FDA LogoThe House yesterday read more >>
July 12th, 2007
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Plaintiff lawyers have indicated that Boston Scientific is engaging them in settlement talks regarding lawsuits over malfunctioning implantable cardioverter-defibrillators and pacemakers, the Star Tribune of Minneapolis reports. Boston Scientific inherited the liability when it bought Guidant. The company is not talking, but a spokeswoman for the plaintiffs said that "the parties are discussing the best way to proceed with these cases." It is believed that Wall Street might look favorably on a settlement, as it would allow the firm to better focus on operational issues.
July 11th, 2007
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Today's New York Times has a lengthy piece on the Myomo e100, read more >>
July 10th, 2007
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Medtronic has launched two innovative defibrillators that are the first of their kind in Japan. Both of the devices wirelessly transmit information to doctors and can be programmed wirelessly upon initial implantation. The defibrillators also deliver electrical shock without a delay (the pacing can happen while charging the capacitor), which could provide safer and less painful anti-tachycardia pacing. Their final novel feature is a diagnostic function that helps doctors monitor fluid build up in the lungs. The fluid status technology can indicate the early warning signs of deteriorating heart failure.
July 9th, 2007
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Yesterday Advanced Medical Optics Inc. (AMO; Santa Ana, CA) announced its bid for Bausch...
July 6th, 2007
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FDA has approved a second hip resurfacing implant, the New York Times reports. The Cormet hip resurfacing system, a joint venture of Stryker and the U.K.'s Corin Group, joins Smith & Nephew's Birmingham system on the U.S. market. (Corin developed the Cormet and Stryker holds U.S. distribution rights.) Stryker says it expects to begin marketing it in September. Hip resurfacing is an alternative to total hip replacement. Its main advantage is that it preserves more of the thigh bone. About 10-15% of hip replacement patients could benefit from hip resurfacing, analysts estimate.
July 5th, 2007
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Covidien, the device company spun off yesterday from Tyco International, saw its shares rise on its first day of trading as its own entity. It could be a harbinger of success for a firm no longer burdened by the wrongdoings and excesses of its corporate parent. But the story isn't that simple, says Boston Globe columnist Steven Syre in a piece today. When what is now Covidien was part of the Tyco conglomerate, Wall Street and the public had no idea how the unit performed in and of itself; only overall results for the corporation were reported. So if there were any problems with performance, they didn't have as much of an effect on Tyco's stock price as they would on Covidien's price going forward. Syre says some on the Street believe that when it was part of Tyco, Covidien invested less in R...
July 3rd, 2007
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Intravascular Ultrasound (IVUS) technology has been around for about 10 years, but many doctors haven't seen it as necessary. That may be changing now that it has been found to provide better views of stent placements than angiograms, reports the Star Tribune of Minneapolis. With fears that drug-eluting stents may help cause blood clots, properly placing them has become particularly important. IVUS enables cardiologists to see whether the stent has been fully expanded against the artery wall; angiograms can't do that. If it is not fully expanded, blood and debris can get caught between the stent and the artery wall, possibly leading to a blood clot. Also helping is that Boston Scientific and Volcano Corp. (Rancho Cordova, CA) have introduced easier-to-use units in the past year.
July 2nd, 2007
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After efforts to recover from a huge corporate scandal, Tyco International is splitting up. The move will create three spin offs--Covidien, Tyco Electronics, and Tyco International. Covidien (Mansfield, MA) will become one of the largest medical equipment manufacturers in the world. According to the Newark Star Ledger, its sales of ventilators and respiratory management products increased 4.2% to $704 million during the first half of the year. The Boston Globe is also reporting that Covidien is making a clear effort to distinguish itself from the tarnished Tyco name via billboards and other advertisements. The company markets a range of healthcare products under brand names including Autosuture, Kendall Healthcare, and Syneture.
June 29th, 2007
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