Savara (NSDQ:SVRA) said today that it inked a $15 million loan agreement with Silicon Valley Bank. According to the deal, Savara can draw $7.5 million from the $15 million debt facility immediately. The company said it plans to use its newly-acquired capital to repay the pre-merger debt of $3.7 million it owes to Hercules Technology […]
Wall Street Beat
Cardinal Health’s fiscal Q3 earnings top forecast, but sales miss the mark
Fiscal 3rd-quarter earnings for Cardinal Health (NYSE:CAH) came in ahead of the consensus estimate on Wall Street, but the top line missed expectations by nearly $500 million. The Dublin, Ohio-based company posted profits of $381 million, or $1.20 per share, on sales of $31.82 billion for the 3 months ended March 31, for a bottom-line slide […]
Medtronic wins FDA nod for Resolute Onyx drug-eluting stent
Medtronic (NYSE:MDT) said today that the FDA approved its Resolute Onyx drug-eluting stent. The Fridley, Minn.-based company touted its device as the 1st stent formed by a sinusoidal wave of cobalt alloy wire. The company incorporated a radiopaque inner core within the wire to boost visibility, according to Medtronic. The stent also features thin struts and a polymer […]
Alere’s Medicare ban upheld by judge for Arriva diabetes unit
Alere (NYSE:ALR) said today that federal judge upheld a ban imposed on its Arriva Medical diabetes division by the Centers for Medicare & Medicaid Services, vowing to appeal the decision barring the unit from government insurance reimbursement. Arriva, which makes durable medical equipment for diabetic testing, was informed last October that its Medicare enrollment would be revoked by […]
Aeterna shares tumble after cancer-killing agent fails in Phase III trial
Shares in Aeterna Zentaris (NSDQ:AEZS) fell more than -50% this morning after the company said that the Phase III trial of Zoptrex did not meet its primary endpoint in women with locally advanced, recurrent or metastatic endometrial cancer. The ZoptEC pivotal trial was designed to evaluate the safety and efficacy of a hybrid molecule made up […]
H&T Presspart, Hovione ink commercialization deal for inhaler tech
H&T Presspart said this week that it acquired the global rights to Hovione Technology‘s capsule-based dry powder inhaler. The company launched a next-gen version of the inhaler called PowdAir Plus at this year’s Respiratory Drug Delivery Europe. The PowdAir Plus device is made of plastic and its 4-component design lessens manufacturing, assembly and production costs, according […]
Sanofi Q1 earnings top estimates, diabetes sales fall
Shares in Sanofi (NYSE:SNY) rose today after the company beat expectations on Wall Street with its 1st quarter results. The French company posted profits of $5.7 billion on sales of $8.65 billion for the 3 months ended March 31, for bottom-line growth of 413.5% on sales growth of 11.2% compared with the same period last year. Get […]
Allergan closes $2.4B Zeltiq acquisition
Allergan (NYSE:AGN) said today that it closed its $2.48 billion acquisition of Zeltiq Aesthetics Inc. (NSDQ:ZLTQ) and its portfolio of body-contouring products. Zeltiq’s FDA-approved CoolSculpting system uses a cooling mechanism to reduce the appearance of fat which has not responded to diet or exercise, without disturbing surrounding tissue. Get the full story at our sister […]
Titan Medical spikes talks with Chinese distributor
Titan Medical (CVE:TMD) said today that it’s spiking talks with Chinese distributor Longtai Medical over its Sport robot-assisted surgery platform so it can focus on winning regulatory approvals in the U.S. and Europe. Back in October 2015, Toronto-based Titan inked a private placement deal with Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade […]
Hill-Rom gains on fiscal Q2 beats
Hill-Rom Holdings (NYSE:HRC) shares are up today after the medical products giant beat Wall Street’s expectations for both sales and earnings during its fiscal 2nd quarter. The Chicago-based company posted profits of $34.4 million, or 51¢ per share, on sales of $678.9 million for the 3 months ended March 31, for a bottom-line gain of 54.3% […]
Baxter CEO Almeida: We could do an $7.5B acquistion
Baxter chairman & CEO Joe Almeida says he’s prepared to pull the trigger on a major acquisition worth as much as $7.5 billion, but any deal has to pass the healthcare giant’s M&A criteria. Speaking with analysts earlier this week during a conference call to discuss Deerfield Park, Ill.-based Baxter’s 1st-quarter results, Almeida said that the transformation […]