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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Medtronic touted data for its In.Pact Admiral drug-coated balloon in patients with peripheral arterial disease. The company presented outcomes from its In.Pact Global study patient cohorts in Asia and Belgium, concluding that its DCB demonstrated consistent outcomes across patient populations.
More than 96% of the 114-patient study group in Asia achieved positive outcomes, which was consistent with results from the full global study cohort. Low clinically-driven target lesion revascularization at 1 year, nearly 4%, was also in line with the results of the 1,406 patients in the global study group. Read more
Abbott missed expectations with its 4th-quarter sales but met Wall Street’s consensus forecast for earnings, sending shares down a tick in pre-market trading today.
In its 1st quarterly results since closing the $25 billion acquisition of St. Jude Medical, the Chicago-area healthcare giant posted profits of $798 million, or 53¢ per share, on sales of $5.33 billion for the 3 months ended Dec. 31, 2016. That’s a 4.0% bottom-line gain on sales growth of 2.8% compared with Q4 2015. Read more
Stryker’s profits decreased 2.3% year-over-year in the fourth quarter, to $510 million, amid charges related to its recalled Rejuvenate or ABG II modular metal-on-metal neck hip stems, as well as expenses related to restructuring and acquisition costs.
Earnings per share were $1.34, down 2.9% year-over-year, the company reported Tuesday evening. Excluding the charges, Stryker’s profits would have been up 14.1% to $1.78 per share, which falls in line with the expectations of analysts polled on Yahoo Finance. Stryker’s stock was up slightly, to nearly $121.50 in early after-hours trading. Read more
Intuitive Surgical beat Wall Street expectations with its fourth quarter results, but company officials expect a slowdown in sales growth this year for da Vinci surgical robots.
Intuitive Surgical earned $204 million, or $5.13 per share, off $386 million in sales during the three months ended Dec. 31, 2016, the company reported Tuesday evening. The fourth quarter earnings numbers were up from $190 million in profits, or $4.99 per share, and $326 million in revenue during the same period one year before. Read more
Anti-trust regulators in the European Union may be OK with the pending, $5.8 billion union of Alere, but Abbott still wants out of the deal.
The Chicago-area healthcare giant, which posted its 4th-quarter results earlier today, sued last month to stop the merger. Today the EU regulators on the European Commission approved the merger, subject to Abbott selling off some Alere’s Epoc and Triage tests and its BNP reagents business. Abbott also agreed to sell plants in Ottawa and San Diego to mollify the commission. Read more