United Therapeutics (NSDQ:UTHR) today signed a deal to acquire competitor SteadyMed (NSDQ:STDY) for $4.46 per share in cash at closing and $2.63 per share in cash if the combined company can win approval for SteadyMed’s Trevyent drug-device combination therapy. The merger, valued at $216 million, combines two companies that were in court as recently as last November, fighting […]
Drug-Device Combinations
Sales for Tandem Diabetes Care climb 44% in Q1
Shares in Tandem Diabetes Care (NSDQ:TNDM) fell -3% today after the insulin pump maker topped revenue expectations, but missed earnings estimates on Wall Street with its first-quarter results. The San Diego, Calif.-based company posted a net loss of -$32.7 million, or -$1.82 per share, on sales of $27.3 million for the 3 months ended March 31, for […]
Flexion touts interim data from Ph3 trial of osteoarthritis injection
Flexion Therapeutics (NSDQ:FLXN) this week touted updated, interim results from an ongoing Phase IIIb study evaluating the safety and tolerability of repeat administration of its osteoarthritis injection, Zilretta. The company’s injectable suspension is an extended-release formulation of triamcinolone acetonide designed for patients with osteoarthritis of the knee. Top-line results from Flexion’s trial showed that 95% of […]
Sanofi misses estimates in Q1, announces $1.5B share buyback
Sanofi (NYSE:SNY) shares fell -3% today after the company posted its first-quarter results, missing estimates on Wall Street and revealing plans for a $1.5 billion share buyback program. The Paris, France-based company saw sales decline -8.7% in the first three months of the fiscal year compared to 2017, landing at $9.55 billion for the quarter. Analysts […]
Abbott pulls Xience Alpine drug-eluting stent from Indian market
Abbott (NYSE:ABT) reportedly stopped selling its Xience Alpine drug-eluting coronary stent in India this week in response to price caps set by the National Pharmaceutical Pricing Authority. A spokesperson for the healthcare firm said in a statement that Abbott “fulfilled all the requirements to discontinue selling its Xience Alpine drug-eluting stent in India as of April […]
Following first profitable quarter, Vericel’s CEO looks to grow portfolio of autologous cell therapy products
In its latest financial results, Cambridge, Mass.-based Vericel (NSDQ:VCEL) saw sales climb 60% for its permanent skin-replacement product, Epicel, designed for patients with severe burns. Sales for its autologous cellular scaffold, Maci, were up 20% following its launch to the commercial market. Vericel’s growing product adoption helped to fuel the company’s first profitable quarter, according to CEO […]
Baxter beats The Street with Q1 results
Shares in Baxter (NYSE:BAX) rose today in pre-market activity after the medical device maker beat expectations on Wall Street with its first-quarter results. The Deerfield, Ill.-based company posted profits of $389 million, or 71¢ per share, on sales of $2.68 billion for the 3 months ended March 31, for bottom-line growth of 43% on sales growth of […]
Novocure misses sales, EPS estimates in Q1
Shares in Novocure (NSDQ:NVCR) fell today after the medical device maker missed expectations on Wall Street with its first-quarter results. The St. Helier, N.J.-based company posted a net loss of -$20.7 million, or -23¢ per share, on sales of $52.1 million for the 3 months ended March 31, for bottom-line loss of -14.8% on sales growth of […]
Theravance Biopharma touts expanded FDA nod for GSK’s Trelegy Ellipta inhaler
Theravance Biopharma‘s (NSDQ:TBPH) said today that the FDA granted expanded indications for GlaxoSmithKline‘s (NYSE:GSK) Trelegy Ellipta inhaler, now approved for use to treat a broader population of chronic obstructive pulmonary disease patients. With the expansion, the inhaler is now cleared for COPD patients with airflow limitations and for those who have experienced an acute worsening of […]
Feds arrest PixarBio CEO Reynolds on securities fraud charges
The bizarre saga of biotech executive Frank Reynolds took another turn today when federal authorities arrested the PixarBio (OTC:PXRB) CEO and two associates on securities fraud charges, claiming they misled investors about its opioid substitute and falsely claimed a $1 billion valuation. PixarBio is purportedly developing a drug to replace morphine and other opiates, but prosecutors alleged […]
FDA approves Medtronic’s drug-coated balloon to treat long superficial femoral artery lesions
The FDA approved Medtronic‘s (NYSE:MDT) In.Pact Admiral drug-coated balloon to treat long superficial femoral artery lesions up to 360mm in patients with peripheral artery disease, the medtech giant touted today. In a 227-patient global trial, participants treated with Medtronic’s drug-device combination therapy had a one-year patency rate of 89.1% and a clinically-driven target revascularization rate […]