Dr. Bruce Saffran added another corporate scalp to his trophy shelf, winning a $482 million verdict in a patent infringement suit against Johnson & Johnson (NYSE:JNJ) subsidiary Cordis Corp. over stent technology.
Drug-Eluting Stents
Shrinking royalties from Johnson & Johnson stents whack Surmodics bottom line in Q1
Johnson & Johnson’s Cypher drug-eluting stent business woes are having a negative effect on SurModics(NASDAQ:SRDX).
Abbott to cut 1,900 jobs
Abbott Laboratories (NYSE:ABT) got the blood flowing for its stent business last year, but the pharma side is causing some bloodletting as Abbott reveald plans to lay off about 2 percent of its global workforce.
The 1,900 job cuts to the Chicago-area medical products conglomerate’s pharmaceuticals division are the result of “changes in the healthcare industry, including U.S. Health Care Reform and the challenging regulatory environment,” according to company officials.
Angiotech delisted from NASDAQ
Angiotech Pharmaceuticals Inc.’s (OTC:ANPI) shares are no longer traded on NASDAQ as of today.
The Vancouver-based company failed to regain compliance with the stock exchange’s listing rules within a 180-day period that ended Jan. 3.
NASDAQ warned the company (PDF) in July about its requirement for a minimum bid price of $1 for listed securities.
Former shareholders launch legal attack on Angiotech
A group representing former shareholders of Angiotech Pharmaceuticals Inc. (NSDQ:ANPI) subsidiary Quill Medical Inc. are suing both companies.
Angiotech’s struggles continue as it defers $10 million debt payment
Angiotech Pharmaceuticals Inc. (NSDQ:ANPI) deferred $9.7 million in interest payments on debt that were due Oct. 1, looking to "effectuate a transaction that would materially reduce the company’s existing debt levels," the company said.
The Vancouver-based company staked its fortunes to Boston Scientific Corp. (NYSE:BSX) and the Taxus drug-eluting stent for which Angiotech makes the drug paclitaxel.
Cordis: Our 10-year-old Cypher’s still as good as Abbott’s Xience V
Cordis Corp., the stent-making subsidiary of Johnson & Johnson (NYSE:JNJ), put a cap on the 2010 Transcatheter Cardiovascular Therapeutics conference in Washington, D.C., with a final volley in the stent wars: A study indicating that its venerable Cypher stent is just as safe and effective as the market-leading Xience V made by rival Abbott (NYSE:ABT).
TCT 2010 roundup: Boston Scientific’s last gasp
The annual Transcatheter Cardiovascular Therapeutics conference ended Sept. 25, with a few more companies touting clinical trial results and Boston Scientific Corp. (NYSE:BSX), which took another beating from competitors this year, trying one last time to regain ground for its Taxus drug-eluting stent.
HORIZONS-AMI Trial Provides Superior Outcomes Data at Three Years with TAXUS Drug-Eluting Stent in Heart Attack Patients
PRESS RELEASE
TCT 2010 roundup: Abbott keeps after Boston Scientific’s Taxus
Abbott (NYSE:ABT) kept up the pressure on Boston Scientific Corp. (NYSE:BSX) at a high-profile cardiology conference, releasing data from a pair of studies it says show that its Xience V drug-eluting stent is better than Boston Scientific’s competing Taxus.
Two-year data from the head-to-head trials of the paclitaxel-eluting Taxus against the everolimus-eluting Xience stent showed that more patients treated with BSX’s stent developed late-stent thrombosis. The data were presented in Washington, D.C., at the annual Transcatheter Cardiovascular Therapeutics conference.
TCT 2010 roundup
A major battlefield in the stent wars opens again this week, as thousands of cardiologists and other healthcare providers flock to Washington, D.C., for the annual Transcatheter Cardiovascular Therapeutics conference.
Medical device industry players large and small are busy hawking the results of clinical trials and touting new products — or new versions of older products. TCT 2010, which kicked off yesterday, is slated to run through Sept. 25.