The Medical Device Business Journal — Medical Device News & Articles | MassDevice
W. L. Gore & Associates picked up NMT Medical Inc. (PINK:NMTI) intellectual property and assets at auction as the company faces bankruptcy and attempts to repay creditors.
Gore’s purchase includes data related to NMT’s Closure I trial, a study of its Starflex cardiac implant.
The Starflex implant won FDA pre-market approval in April 2009 and the Boston-based company began analyzing its Closure trial data a year later.
Intuitive Surgical Inc. (NSDQ:ISRG) crushed Wall Street earnings estimates during the third quarter on its way to posting significant top- and bottom-line boosts.
The Sunnyvale, Calif.-based robotic surgery system maker’s Q3 results sent its stock on a tear today, driving share prices up more than 10 percent to $421.14 as of about 12:45 p.m.
NMT Medical Inc. (PINK:NMTI) sold its assets and intellectual property to W. L. Gore & Associates in an attempt to repay creditors after declaring bankruptcy.
Gore’s purchase includes data related to NMT’s Closure I trial, a study of its Starflex cardiac implant.
The Starflex implant won FDA pre-market approval in April 2009 and the Boston-based company began analyzing its Closure trial data a year later.
St. Jude Medical (NYSE:STJ) beat Wall Street’s forecasts for its third-quarter sales and earnings, sending its shares up nearly 5 percent in early-morning trading despite a lower forecast for full-year earnings.
Abbott (NYSE:ABT) said it will spin out its research pharmaceuticals operation into an as-yet-unnamed publicly traded firm, keeping the Abbott brand for its diversified medical businesses.
The Chicago-area health care giant also said its third-quarter profits were down 66.0 percent on a $1.5 billion set-aside to cover litigation costs.
It’s a sea change for 123-year-old Abbott, long noted for its diversification, chairman and CEO Miles White said.
Royal Philips Electronics (NYSE:PHG) is planning to cut 4,500 jobs to boost profits after reporting its worst quarterly results in two years.
The Dutch conglomerate posted profits of $105.3 million (€76 million) on sales of $7.48 billion (€5.40 billion) for the third quarter, down 85.5 percent and 1.2 percent, respectively.
Shares of Edwards Lifesciences (NYSE:EW) bounced back today after losing nearly 5 percent yesterday on speculation that FDA approval of its next-generation Sapien heart valve could be delayed.
Edwards shares closed at $68.53 yesterday, down 4.8 percent from its $72 close the day before. EW shares were trading at $69.73 as of about 1:15 today, up nearly 1.8 percent.
Johnson & Johnson (NYSE:JNJ) kicked off quarterly earnings season by beating Wall Street estimates and raising the bottom end of its earnings guidance, sending JNJ shares up modestly despite declining third-quarter earnings.
The New Brunswick, N.J.-based health care conglomerate reported profits of $3.20 billion, or $1.15 per diluted share, on sales of $16.01 billion for the three months ended Sept. 30.
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Olympus Corp. (TYO:7733) fired its president last week and promptly watched its share price plunge as Wall Street analysts expressed their displeasure by downgrading the Japanese medical equipment and camera maker.
Olympus shares closed down nearly 24 percent today on the Tokyo stock exchange following downgrades from at least six analysts on The Street – the stock’s worst showing since 1974, according to Bloomberg.
That plunge followed an 18 percent slide Oct. 14, the day Olympus announced Woodford’s ouster.
AtriCure Inc. (NSDQ:ATRC) could be poised for a buyout over the next year to 18 months, according to Canaccord Genuity analyst Jason Mills.
