Category: Globus Medical
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com's coverage highlights our seven biggest and most influential stories from the week's news to make sure you're up to date on the headlines that continue to shape the medical device industry.
Globus Medical accuses Johnson & Johnson's DePuy Synthes unit of violating its patent for an intervertebral fusion implant with the Zero-P VA device.
NuVasive targets another former sales representative that it claims fled to a competitor and took trade secrets with her.
Medical device maker NuVasive (NSDQ:NUVA) is after another former sales representative that it claims breached confidentially contracts, according to court documents.
Orthopedic medical device company Globus Medical reports strong sales during the 3rd quarter.
Globus Medical (NYSE:GMED) said profits dropped slightly during the 3rd quarter, despite a 12.5% increase in sales for the Audubon, Pa.-based orthopedic medical device company.
Globus Medical shares surged to a 52-week high after the FDA approved its Secure-C spinal implant, but Wall Street's initial enthusiasm has waned since then.
Globus Medical (NYSE:GMED) won pre-market approval from the FDA for its Secure-C artificial cervical disc, based on a study showing that the spinal implant performed
The Braintree, Mass.-based medical device company also reported fiscal 1st-quarter profits of $9.8 million, or 38¢ per share, on sales of $176.5 million during the 3 months ended June 30, for a bottom-line slide of 42.2% on top-line growth of 3.5%.
The 2.3% medical device tax will spur more consolidation within the industry as the measure cuts investments and impacts company valuations, says St. Jude Medical CEO Daniel Starks.
The ever-looming 2.3% medical device tax "will have more impact on businesses than is generally appreciated, St. Jude Medical (NYSE:STJ) CEO Daniel Starks told investors during the company's earnings call this week.