The U.S. Senate Judiciary Committee yesterday called on the Federal Trade Commission to investigate whether Mylan (NSDQ:MYL) broke the law after reports claimed the EpiPen maker prevented schools from buying competing allergy treatments. In a letter penned to the FTC, committee chairman Sen. Charles Grassley (R-Iowa) and ranking member Sen. Patrick Leahy (D-Vt.) wrote, “increasing patient access […]
Wall Street Beat
Haemonetics tops Q2 earnings forecast by 11c
Haemonetics (NYSE:HAE) yesterday posted fiscal 2nd-quarter numbers that topped expectations on Wall Street by more than a dime, despite flat sales growth, as the company executes a reorganization plan. The Braintree, Mass.-based blood management company posted profits of $19.8 million, or 38¢ per share, on sales of $220.3 million for the 3 months ended Oct. 1, […]
Third-quarter sales surge more than 50% for Mazor Robotics
Third-quarter sales for Mazor Robotics (NSDQ:MZOR) rose nearly 54% as the robot-assisted surgery company sold more guidance systems than during all of last year. Caesarea, Israel-based Mazor posted losses of -$5.2 million, or -11¢ per share, on sales of $7.6 million for the 3 months ended Sept. 30, keeping the bottom line flat compared with Q3 2015. […]
CMS acting chief Slavitt slams drug pricing
Centers for Medicare & Medicaid Services acting chief Andy Slavitt admonished pharma companies like Mylan (NSDQ:MYL) over unsustainable price increases before the Biopharma Congress in Washington D.C. last week. Mylan came under fire this year after reports showed that the Canonsburg, Penn.-based company raised the price of its emergency allergy epinephrine injector by 500% since it acquired the product in 2007 […]
Medicare revokes Alere’s Arriva division enrollment
Alere‘s (NYSE:ALR) Arriva division had its enrollment with the Centers for Medicaid & Medicare Services revoked this month, the company said today in a regulatory filing. Arriva, which develops durable medical equipment for diabetic testing, was informed Oct. 12 that its Medicare enrollment would be revoked by CMS over issues with an excess of claims submissions […]
Regeneron boosts profits, misses revenue in Q3
Shares in Regeneron (NSDQ:REGN) gained today after the biopharmaceutical company crushed earnings expectations on Wall Street with its 3rd quarter results. The Tarrytown, New York-based company posted profits of $264.8 million, or $2.27 per share, on sales of $1.22 billion for the 3 months ended September 30, for bottom-line growth of 26% on sales growth of 7.3% […]
Boston Scientific extends $210 million tender offer for EndoChoice
Boston Scientific (NYSE:BSX) said today that it’s extending its $210 million tender offer for EndoChoice (NYSE:GI) and its line of devices for treating gastrointestinal disease. The $8-per-share tender offer was slated to expire at midnight Nov. 4. Marlborough, Mass.-based Boston Scientific said it’s moving the deadline out to Nov. 21 “to allow additional time for the satisfaction of […]
Baxter CEO Almeida on creating a bridge between invention and innovation
“The part that separates most companies regarding innovation, those that truly get it, is the bridge between the invention and the innovation,” Baxter chairman & CEO Joe Almeida said last week at the annual Cleveland Clinic Medical Innovation Summit. The ability to bring innovation or an invention to the world is what distinguishes companies that […]
Abbott looks to mollify EU regulators on St. Jude Medical merger; sues Alere for breach of contract
Abbott (NYSE:ABT) made moves yesterday on a pair of pending, multi-billion-dollar acquisitions, its $25 billion merger with St. Jude Medical (NYSE:STJ) and a $6 billion union with Alere (NYSE:ALR). The European Commission said Abbott, which along with St. Jude agreed to deal some of its vascular assets to Japan’s Terumo Corp. (TYO:4543) last month, agreed to make unspecified concessions to […]
Becton Dickinson’s full-year profits soar 40%
Becton Dickinson (NYSE:BDX) shares gained nearly 4% today after the medical products giant posted fiscal 4th-quarter and full-year results that met or beat the consensus forecast on Wall Street. Franklin Lakes, N.J.-base BD posted profits of $19 million, or 9¢ per share, on sales of $3.23 billion for the 3 months ended Sept. 30, marking a […]
Novocure reports 142% boost in sales for Q3
Shares in Novocure (NSDQ:NVCR) rose nearly 30% yesterday after the medical device maker met expectations on Wall Street with its 3rd-quarter results. The St. Helier, N.J.-based company pared its losses by -29% to -$33.6 million, or -39¢ per share, on sales of $21.7 million for the 3 months ended Sept. 30, for sales growth of 142% […]