Massachusetts-based Covidien officially becomes a pure-play medical device company after executing the spinout of its pharmaceuticals business into independently operated Mallinckrodt plc, which today began trading on the New York Stock Exchange.
Covidien's spinout of its Mallinckrodt pharmaceuticals business is slated to close later this month.
Covidien (NYSE:COV) said it expects to close its spinout of the Mallinckrodt pharmaceuticals business by the end of this month, with a distribution of shares in the new company.
Mansfield, Mass.-based Covidien said it will issue 1 single share of Mallinckrodt stock for 8 shares of COV stock to interested investors, will all distributions scheduled for completion by June 28.
Results of pivotal study on Covidien subsidiary eV3's Pipeline cerebral aneurysm device, published in June issue of Radiology, show that the treatment is safe and effective for certain patients, according to the company.
Covidien (NYSE:COV) subsidiary ev3 Inc. is touting the results of a pivotal trial of its Pipeline aneurysm embolization device, showing that the technology "offers a reasonably safe and effective treatment of large or giant intracranial internal carotid artery aneurysms."
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Covidien's doubling down in emerging markets yet again, looking to invest in Brazil, South Africa and Mexico and other high-growth regions in hopes of hitting $2 billion in emerging market revenue "as soon as possible."
Medical device giant Covidien is doubling down on emerging markets, expanding an investment program that the company had, at one point, thought would be over by the end of 2013.
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Fluid management device maker Cheetah Medical shakes up its C-suite and pulls in a $14.5 million financing round.
Cheetah Medical shook up the C-suite this week, added a new CEO and a new medical chief – plus $14.5 million to the fluid management device maker's coffers.