The Chinese Commerce Ministry’s anti-monopoly bureau is looking for information on pricing and operations at medical device makers within the country as well as from around the world, according to a Reuters report.
Local sources told the new service that concerns about local corruption and price-fixing may have spurred the survey, but a deputy director at the China Assn. for Medial Devices Industry told reporters that there hadn’t been word of any official investigations into the sector.
The heightened interest from government authorities come amid concerns about price-fixing, bribery and corruption within the country’s medical device industry, Reuters reported.
"This is certainly not common," an unnamed Beijing biotech executive told the news service. "I have been working in this industry for 10 years and have never encountered anything like this."
Medtronic VP Szyman dumps $3M in shares
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Boston Scientific CFO Capello unloads $5.6M in shares
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Private-equity backed mergers come back with a vengeance
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Analysts’ ups and downs
- Bio-Rad Laboratories (NYSE:BIO): TheStreet downgrades from “buy” to “hold” rating
- Boston Scientific (NYSE:BSX): TheStreet upgrades from “hold” to “buy” rating
- C.R. Bard (NYSE:BCR): Bank of America raises price target from $125 to $140, maintains “buy” rating
- Cynosure (NSDQ:CYNO): TheStreet downgrades from “buy” to “hold” rating
- GE (NYSE:GE): TheStreet reiterates “buy” rating.
- Given Imaging (NSDQ:GIVN): TheStreet upgrades from “hold” to “buy” rating
- Intuitive Surgical (NSDQ:ISRG): Nasdaq maintains “neutral” rating
- Intuitive Surgical (NSDQ:ISRG): First Analysis downgrades to “underweight” rating
- Medtronic (NYSE:MDT): Deutsche Bank raises price target from $55 to $56, reiterates “hold” rating
- ResMed (NYSE:RMD): Bank of America upgrades from “neutral” to “buy” rating
- Smith & Nephew (FTSE:SN, NYSE:SNN): Numus Securities reiterates “add” rating
