Smith & Nephew CEO reveals new 'no frills' strategy
July 28, 2014 by Brad Perriello
Smith & Nephew CEO Olivier Bohuon is planning to reveal a new strategy for mature markets this week that the company 1st developed for the middle tier in emerging markets, he told the Telegraph yesterday.
Instead of providing a soup-to-nuts solution including medical devices, logistical support and an on-site technician, Bohuon said, the new strategy is to supply only the medical device at a reduced cost. Read more
Bard: We're on track for early 2015 Lutonix approval
July 25, 2014 by Brad Perriello
C.R. Bard is on track for an early 2015 U.S. approval of its Lutonix drug-eluting balloon, company executives said yesterday after reporting earnings growth that topped expectations.
Last month an FDA panel recommended that the watchdog agency approve the Lutonix device, which is designed to treat peripheral artery disease, voting unanimously that it is safe, effective and its benefits outweigh its risks. Read more
Ocular Therapeutix prices IPO below range
July 25, 2014 by Brad Perriello
Ocular Therapeutix said this morning that it plans to put up 5 million shares at $13 apiece on the NASDAQ exchange today.
That’s a dollar below the projected price range the Bedford, Mass.-based company issued earlier this month. Read more
Philips' healthcare business suffers in Q2
July 28, 2014 by Arezu Sarvestani
Philips Healthcare had a tough 2nd quarter with a shutdown of a manufacturing facility in Cleveland taking some of the wind out of the sales for the entire company.
The Dutch giant’s healthcare sales dropped 9.5% to $2.87 billion (EUR 2.14 billion) during Q2 2014, compared with $3.17 billion (EUR 2.36 billion) during the same time last year. Philips said its 2nd-quarter earnings before interest, taxes & amortization to be roughly $302.2 million (EUR 225 million), compared with $564 million (EUR 420 million) last year. Read more
Intersect ENT prices IPO at low end of range
July 24, 2014 by Brad Perriello
Intersect ENT said today that it’s shares should hit the NASDAQ exchange at $11 apiece, the low end of the range, for expected proceeds of $55 million.
At that price, Intersect would command a market capitalization of roughly $267 million. Read more