Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Analyst: St. Jude Medical’s Q2 results could signal ICD rebound
St. Jude Medical reported an above-expectations gain for its core implantable cardiac defibrillator business today, prompting 1 analyst to suggest that the ICD sector overall might be on the rebound.
St. Paul, Minn.-based St. Jude posted profits of $270 million, or 93¢ per share, on sales of $1.45 billion for the 3 months ended June 28, for bottom-line growth of some 134.8% on sales growth of 3.2%. Read more
2. Novartis partners with Google on smart contact lenses
Swiss eye care company Alcon has signed up to partner with Google to commercialize “smart” contact lenses that can measure blood glucose levels and transmit reports wirelessly.
The smart lens project was developed by Google’s clandestine “X” research team and aims to revolutionize the way that diabetics measure and monitor their blood glucose levels. Read more
1. Travelers holds out on BD’s $67M coverage claim
Travelers Casualty & Surety Co. is suing Becton Dickinson & Co. over a $67 million claim related to BD’s losses in a string of anti-trust lawsuits filed over its alleged monopolization of the hypodermic needle market, seeking to have a judge declare that the insurance company isn’t bound to cover the losses.
Becton was the defendant in 9 purported class action lawsuits brought by distributors and hospitals alleging that the Franklin Lakes, N.J.-based healthcare giant “engaged in conduct violative of federal antitrust laws that resulted in inflated prices for Becton’s products” and “illegally acquired a monopoly over the sale of various hypodermic products.” Read more