Tom Polen, the CEO of Becton Dickinson (NYSE:BDX), will also serve as BD’s board chair effective April 28, the company said today. Polen takes over the board chair slot from former CEO Vincent A. Forlenza, who will retire at that time. Polen, 47, has held the corner office at BD since January 2020. He joined […]
Johnson & Johnson pharma sales drive Street-beating Q4 results
Johnson & Johnson (NYSE:JNJ) posted fourth-quarter results today that beat the consensus forecast on Wall Street — with the company predicting a return to strong sales growth in 2021. The New Brunswick, N.J.–based pharma, medical device and consumer products giant reported profits of $1.7 billion, or 65¢ per share, on sales of $22.5 billion for the […]
The top 5 MassDevice stories of the week — January 22, 2021
It’s a new year with a new president who has new plans to fight the COVID-19 pandemic — a strategy that should be a big story for medtech in coming weeks. Even as President Biden and COVID-19 dominated the news, the medical device industry saw some important news in the hot robotic surgery space and […]
Hillrom to buy Bardy Diagnostics for $375M
Hillrom (NYSE:HRC) has agreed to spend $375 million to acquire Bardy Diagnostics and its Carnation Ambulatory Monitor, or CAM patch. Analysts at Baird described the CAM patch as a long-term Holter wearable biosensor. Hillrom said in a news release out today that the BardyDx purchase complements Hillrom’s present cardiology portfolio of cardiac stress exercise, Holter and […]
Former FDA commissioner Kessler to help lead Biden’s COVID-19 response
President-elect Joe Biden today announced that Dr. David Kessler, who led FDA through much of the 1990s, will serve as chief science officer of his administration’s COVID-19 response. Kessler’s achievements at FDA included speeding the approval of drugs to reduce the AIDS death toll. He’ll now be helping to lead efforts to speed authorization and […]
3M, Honeywell gain antitrust protection to boost N95 mask supply
3M (NYSE:MMM) and Honeywell (NYSE:HON) are among 60 companies and trade groups sharing production, distribution and pricing information under FEMA-led efforts to secure supplies of products needed to combat COVID-19, according to a Wall Street Journal report. The information-trading project, taking place under the Defense Production Act, is protected from antitrust scrutiny. 3M and Honeywell are major […]
Ex-Acclarent execs fined $1.5M in off-label marketing case
There will be no prison time for the two former Acclarent executives convicted of federal misdemeanor charges related to marketing a sinus balloon catheter for unapproved uses. Former Acclarent CEO William Facteau will instead pay a $1 million fine, and the company’s ex-sales VP Patrick Fabian will pay $500,000, according to the sentence handed down […]
Prosecutors want to present evidence of Elizabeth Holmes’ quest for wealth and fame
Private jet flights, luxury hotel trips, fawning media reports and hobnobbing with the world’s elite — Elizabeth Holmes’ desire for recognition and wealth allegedly motivated her to commit fraud with her now-defunct blood-testing company Theranos. That’s a major motive argument that federal prosecutors would like to make when Holmes’ trial starts in July in U.S. […]
TransEnterix raises more than $31M in stock offering
TransEnterix (NYSE:TRXC) announced today that it has raised $31.25 million from several institutional investors in a direct offering of common stock. The offering involves the sale of 25 million shares of TransEnterix common stock at a purchase price of $1.25 per share. The surgical robotics company plans to use the funds for general corporate purposes, including […]
Smith+Nephew sees Movemedical automating inventory for its sales people
Smith+Nephew (NYSE:SNN) announced today that it has successfully introduced a new field sales operations and inventory automation system in the U.S. in partnership with Movemedical. The new system is meant to help field sales reps better manage their daily inventory operations — and better serve surgeons’ needs — boosting automation and transparency. Real-time data will […]
BD stock up on Street-beating preliminary quarterly revenue numbers
Becton Dickinson (NYSE:BDX) today announced that it brought in $5.3 billion in revenue for its first quarter ended Dec. 31, 2020, beating the nearly $4.7 billion expected by Wall Street analysts. The announcement of the preliminary unaudited Q1 results sent BDX shares up 1.8% to $261.75 apiece by midday trading today. MassDevice’s MedTech 100 Index, which includes […]