Alcon (NYSE:ALC) shares took a hit today after the former Novartis (NYSE:NVS) vision care business posted second-quarter earnings that missed the consensus forecast, despite a healthy top-line beat. Geneva-based Alcon, which Novartis spun into a public company in April, reported a swing to Q2 red with losses of -$390.0 million, or -80¢ per share, on sales growth […]
Appeals court upholds Medtronic win in wrongful termination suit
A federal appeals court yesterday upheld a win for Medtronic (NYSE:MDT) in a wrongful termination lawsuit brought by an employee who alleged that he was fired because of his morbid obesity. Jose Valtierra weighed more than 300 pounds when he was hired as a facility maintenance technician in 2004; by the time he was fired […]
Study: No difference between Biotronik, Medtronic or Boston Scientific stents
A study comparing drug-eluting stents made by Biotronik, Medtronic (NYSE:MDT) and Boston Scientific (NYSE:BSX) found no statistically significant difference on target vessel failure or stent thrombosis after three years. The 3,514-patient Bio-Resort trial compared Biotronik’s Orsiro biodegradable sirolimus-eluting stent, Medtronic’s thin-strut zotarolimus-eluting Resolute Integrity stent and the Synergy biodegradable everolimus-eluting stent. Get the full story at […]
3M funds Acelity buyout with $3.3B debt offering
3M (NYSE:MMM) is planning to finance its $6.7 billion acquisition of Acelity in part with a $3.3 billion debt offering. Maplewood, Minn.-based 3M, which announced its purchase of wound care giant Acelity in May, launched a four-part bond sale yesterday. 3M expects to finance the Acelity buyout with all of the net proceeds from the […]
ConforMIS sues Zimmer Biomet for alleged patent infringement
ConforMIS (NSDQ:CFMS) has sued Zimmer Biomet (NYSE:ZBH) alleging infringement of four different patents for personalized joint replacement surgery. In the lawsuit filed last week in U.S. District Court in Delaware, ConforMIS claims that Zimmer Biomet has infringed its patents for personalized knee and hip replacement surgery and for shoulder arthroplasty. Bedford, Mass.-based ConforMIS is targeting Zimmer […]
Check-Cap, GE Healthcare close manufacturing line transfer
Check-Cap (NSDQ:CHEK) said it finalized a manufacturing line transfer implementation and qualification with the healthcare business at General Electric (NYSE:GE) for its C-Scan system, a preparation-free ingestible scanning capsule-based system designed to prevent colorectal cancer. The C-Scan system is in the midst of a pilot clinical trial at the New York University School of Medicine and […]
Judge approves $160k settlement between ex-Sientra CEO Zeini, SEC
A California federal judge last week approved a settlement between former Sientra (NSDQ:SIEN) CEO Hani Zeini and the U.S. Securities & Exchange Commission, ordering him to pay a $160,000 fine and barring him from working at publicly traded companies for five years for his alleged scheme to hide a problem at the company that led to […]
Boston Scientific wins FDA nod for MR-safe Vercise Gevia DBS
Boston Scientific (NYSE:BSX) said yesterday that it won FDA approval for MR-conditional labeling on its Vercise Gevia deep-brain stimulation device for treating Parkinson’s disease. The ImageReady MRI label means the device and its companion Vercise Cartesia directional lead can be used during 1.5-Tesla full-body MRI scans, the Marlborough, Mass.-based company said. “Boston Scientific continually strives to […]
Medtronic’s fiscal Q1 numbers top estimates
Medtronic (NYSE:MDT) posted fiscal first-quarter results today that beat the consensus forecast on Wall Street for both sales and earnings. The Fridley, Minn.-based medical device titan reported profits of $864.0 million, or 64¢ per share, on sales of $7.49 billion for the three months ended July 26, amounting to a bottom-line slide of -19.6% on […]
Department of Justice clears Misonix in China FPCA probe
Misonix (NSDQ:MSON) said last week that the U.S. Department of Justice has dropped its inquiry into the company following a probe of self-reported possible Foreign Corrupt Practices Act violations in China. The Justice Department action, detailed in an August 13, 2019, letter to the company, follows the Securities & Exchange Commission’s June 18, 2019, letter […]
Facing delisting, Viveve announces $6.76m funding round
Viveve (NSDQ:VIVE) said last week that it is looking to raise up to $6.76 million in a common stock offering, according to a regulatory filing. The stock is being offered at $0.13 per share, which was the last reported sale price of its common stock on August 15, 2019. The actual number of shares issued […]
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