Shares in Edwards Lifesciences (NYSE:EW) have fallen in after-hours trading today after the medical device maker posted first quarter earnings that beat earnings per share expectations, but missed sales consensus on Wall Street and showed shrinking profits. The Irvine, Calif.-based company posted profits of $206.6 million, or 96¢ per share, on sales of $894.8 million for […]
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 […]
Valeritas prices $24m offering
Valeritas (NSDQ:VLRX) today announced a new $24m offering. In the offering, the Bridgewater, N.J.-based company will look to float approximately 13.7 million shares of common stock at $1.75 per share. The offering will also include a 30-day underwriter’s option for an additional 2.1 million shares at the same price. Read the whole story on our sister […]
Report: Johnson & Johnson sees Vision Care biz grow, looks to expand beyond contacts
Johnson & Johnson (NYSE:JNJ) saw its vision care sales grow 34% last quarter over its previous first quarter as it looks to significantly grow the business into the surgical and device segments, according to a CNBC report. The company added a number of surgical products alongside a contact subscription service, which come in addition to its […]
Venrock raises $400m for third healthcare fund
Venrock has raised $400 million for its Venrock Healthcare Capital Partners III cross-over biotech fund, according to an SEC filing posted this week. The total funds raised include a commitment from Venrock’s general partner, VHCP Management III, according to the SEC filing. Venrock has not yet released any detailed plans on how it will spend […]
Philips gains on Q1 results
Royal Philips (NYSE:PHG) shares closed up today in Amsterdam and had gained nearly 5% on Wall Street after the Dutch healthcare conglomerate reported better-than-expected profit numbers for the first quarter. Philips posted profits of €124 million ($151.5 million), or €0.13 per share, on sales of €3.94 billion ($4.81 billion), for a bottom-line slide of -52.1% compared with Q1 […]
Schein to spin out animal health biz in merger with Vets First Choice
Henry Schein (NSDQ:HSIC) said today it plans to spin off its Animal Health business and merge it with Vets First Choice to create a new combined animal health business which will operate under the moniker Vets First Corp. The new company aims to use advanced data analytics, practice management software and other specialized technology to support […]
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 […]
Fresenius to deal majority investment in Sound Inpatient Physicians to PE consortium for $2.2B
Fresenius Medical Care (NYSE:FMS; ETR:FRE) said last Saturday it inked a deal to divest itself of its controlling interest in Sound Inpatient Physician Holdings in a deal worth approximately $2.2 billion (EU €1.8 billion). The company said it is divesting its holdings in Sound to a consortium led by Summit Partners, and that it expects to generate […]
Fresenius abandons $4.3B Akorn merger, citing data integrity probe
Fresenius (ETR:FRE) is walking away from a $4.3 billion merger with U.S. generic drugmaker, Akorn Inc. (NSDQ:AKRX), citing an investigation that found material breaches of FDA data integrity requirements relating to Akorn’s operations. Fresenius said in a statement that it offered to delay its decision to give Akorn time to compete its own investigation, but Akorn turned […]
Nephros releases preliminary Q1 earnings, raises $3m
Nephros (OTC:NEPH) this week released the preliminary earnings for its first quarter of 2018 including plans to move its headquarters, and released information on a $2.9 million equity round of financing. The South Orange, N.J.-based company said it expects to post sales of $958,000 for its first quarter, up 39% from the same quarter last year. […]
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