Even as Zimmer Biomet prepares to launch its Persona-IQ smart knee implant later this year, the ortho device giant is looking at additional opportunities to package sensors inside ortho implants. Startup Canary Medical (Vancouver, British Columbia), which created the Canary Health Implantable Reporting Processor (CHIRP) that is going inside the Persona-IQ, has cemented a long-term […]
GE Healthcare acquires Zionexa and its FDA-approved PET imaging agent
GE Healthcare (NYSE:GE) announced today that it has acquired Zionexa and its molecular imaging agent that could enable more targeted treatment for metastatic breast cancer patients. The financial terms of the deal were not disclosed. Zionexa (Aubière, France) has had its FDA-approved PET imaging agent Cerianna on the U.S. market since December 2020, but it’s […]
Cardinal Health stock down 8% on Q3 earnings miss
Cardinal Health (NYSE:CAH) stock is down today after the company’s third-quarter earnings missed the Wall Street consensus forecast. The Dublin, Ohio–based medical device manufacturer and life science products distributor reported profits of $119 million, or 40¢ per share, off sales of $39.275 billion for the quarter ended March 31, 2021, with earnings down two-thirds off […]
BD to spin off its diabetes business, Q2 earnings beat The Street
BD (NYSE: BDX) announced today that it will spin off its Diabetes Care business as an independent, publicly traded company during the first half of 2022. The Diabetes Care business saw $1.1 billion in sales during BD’s fiscal year ended Sept. 30, 2020, nearly half outside the U.S. The business manufactures roughly 8 billion injection […]
BREAKING: Biden administration calls for waiving IP protections for COVID-19 vaccines
U.S. Trade Representative Katherine Tai announced this afternoon that the Biden administration supports waiving IP protections for COVID-19 vaccines. “This is a global health crisis, and the extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures,” Tai said in the statement. Get the full story on our sister site Pharmaceutical Processing World.
Elizabeth Holmes wants to blame Silicon Valley startup culture for Theranos fiasco
Ex-Theranos CEO Elizabeth Holmes’ lawyers want to present evidence about Silicon Valley startup culture as part of her federal fraud trial defense, according to media reports. “Silicon Valley exaggeration occurs, there’s going to be natural discussion of startup companies and how they operate,” Judge Edward Davila said during a hearing yesterday in federal court in […]
Smith+Nephew revenue up 11.5% in Q1
Smith+Nephew (LSE:SN, NYSE:SNN) today reported that Q1 revenue was up 11.5% year-over-year, to $1.264 billion. The British medtech giant saw year-over-year revenue growth for all three franchises: Orthopaedics was up 1.6%, with strong hip implants and trauma and extremities devices growth offset by weaker-than-anticipated knee implant sales. Sports Medicine & ENT was up 10.4% underlying, […]
Teleflex announces Street-beating Q1, restructuring plans
Teleflex (NYSE:TFX) today posted first-quarter results that beat the Wall Street consensus forecast and announced business streamlining plans for 2021. The Wayne, Pa.–based maker of critical care and surgical products reported earnings of $74.9 million, or $1.58 per share, off sales of $633.9 million for the quarter ended March 31, 2021, for a –43% bottom-line […]
Baxter beats The Street in Q1 — but Q2 projections below expectations
Baxter (NYSE:BAX) posted first-quarter earnings today that beat the consensus forecast on Wall Street, but its Q2 earnings outlook didn’t meet expectations. The Deerfield, Ill.–based medtech giant — maker of renal care products, drug delivery devices and more — reported profits of $300 million, or 58¢ per share, on sales of $2.946 billion for the […]
Stryker misses on Q1 results, but is more optimistic about 2021
Stryker (NYSE:SYK) today posted results that missed the Wall Street consensus, even as the company upped its earnings guidance for the full year. The Kalamazoo, Mich.–based orthopedic device giant reported profits of $302 million, or $0.79 per share, on sales of $3.953 billion for the three months ended March 31, 2021, for a bottom-line decline […]
The 10 largest orthopedic device companies in the world
Pent-up demand could make orthopedic devices a hot space in 2021. The COVID-19 pandemic was especially brutal for the orthopedic device industry. Many of the largest companies in the space saw double-digit percentage declines in revenue in 2020. Health providers delayed or canceled elective procedures to focus on the pandemic, and patients stayed away in […]
