Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. Integra LifeSciences slides on Q4 sales miss
Integra LifeSciences met the consensus earnings forecast for its 4th-quarter earnings, but saw share prices slide nevertheless after it missed Wall Street’s top-line outlook last week.
The Plainsboro, N.J.-based medical device company posted profits of $28.2 million, or 35¢ per share, on sales of $255.7 million for the 3 months ended Dec. 31, for a whopping 88.6% bottom-line gain on sales growth of 6.0% compared with Q4 2015. Read more
4. FDA green-lights Cagent Vascular’s Serranator Alto PAD balloon catheter
Cagent Vascular said today that it won 510(k) clearance from the FDA for its Serranator Alto balloon catheter, which is designed to treat peripheral artery disease.
The Wayne, Pa.-based company bills its serration technology, created by co-founder and CMO Dr. Peter Schneider, as a way to improve arterial expansion during balloon angioplasty for PAD. The device’s balloon has serrated external metal strips designed to create linear “micro-serrations,” according to Cagent’s website. Read more
3. Halyard Health ticks up on Q4 sales, earnings beats
Halyard Health shares gained today in pre-market trading after the company reported 4th-quarter results that topped the consensus forecast on Wall Street.
Alpharetta, Ga.-based Halyard, the Kimberly-Clark spinout that debuted back in October 2014, posted profits of $10.0 million, or 21¢ per share, on sales of $410.0 million for the 3 months ended Dec. 31. That amounts to a -31.0% profit slide on sales growth of 2.1% compared with Q4 2015. Read more
2. OncoSec wins fast track designation for electroporation combo therapy
OncoSec Medical wins fast track designation for electroporation combo therapy said today that it won Fast Track Designation from the FDA for its ImmunoPulse IL-12 electroporation gene therapy for the treatment of metastatic melanoma.
The biotech company’s electroporation device is designed to locally deliver DNA-based interleukin-12 to stimulate the immune system and fight off cancer cells. The ImmunoPulse device delivers a sequence of short-duration electrical pulses to increase the cancer cell membrane’s permeability and more efficiently deliver the IL-2 gene therapy. Read more
1. Johnson & Johnson closes $4.3B Abbott Medical Optics buy
Johnson & Johnson said today that it closed the $4.33 billion b[uyout of Abbott Medical Optics from Abbott.
The deal for AMO, announced in September 2016, includes its portfolio of ophthalmic products covering cataract surgery, laser refractive surgery and consumer eye health. The business posts annual sales of $1.1 billion and is slated to be folded into the medical devices segment as a separate platform within J&J Vision Care. Read more
