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. Abiomed dips on missed Q4 earnings, despite sales beat
Share prices for Abiomed dipped today after the company reported fiscal 4th-quarter earnings that missed expectations, despite a top-line gain of nearly 33%.
The Danvers, Mass.-based heart pump maker posted profits of $14.9 million, or 33¢ per share, on sales of $124.7 million for the 3 months ended March 31, for a bottom-line increase of 35.5% on sales growth of 32.7% compared with Q4 2016. Read more
4. FDA: ReFlow Wingman35 crossing cath recall is Class I
The FDA today released information on a select recall of ReFlow Medical Wingman35 crossing catheters over issues with device tip splitting or separation, labeling it as Class I.
Class I recall designations, the agency’s most serious classification of recall, are used when there is a reasonable probability that product use could cause serious adverse health consequences or death. Read more
3. Glaukos shares tumble despite Q1 beat
Shares in Glaukos fell -10% today after the ophthalmic medtech company beat expectations on Wall Street with its 1st quarter results.
The San Clemente, Calif.-based company posted profits of $878,000, or 2¢ per share, on sales of $35.9 million for the 3 months ended March 31, for bottom-line loss of -2% on sales growth of 55% compared with the same period last year. Read more
2. Siemens mulls Healthineers options, beats Q2 forecasts
Siemens beat expectations for its fiscal 2nd quarter as all of its operations – except the Healthineers business it plans to spin off – exceeded profit forecasts.
The German industrial giant today posted profits of , or €1.79 ($1.64) per share, on sales of €20.22 billion ($18.56 billion) for the 3 months ended March 31, for flat bottom-line growth on sales growth of 6.4%. Read more
1. Ex-Johnson & Johnson exec wins appeal in noncompete spat with Baxter
A former Johnson & Johnson executive won her appeal in a dispute over her non-compete contract that arose after she moved to Baxter.
Laura Angelini, now the GM for Baxter’s chronic renal business, was hired last August to be worldwide president of Baxter’s biosurgery division after a 25-year career at J&J’s Ethicon and DePuy Orthopaedics businesses. Johnson & Johnson sued to enforce its non-compete agreement with Angelini, alleging that emails and a 20-minute Ethicon presentation she attended contained confidential information. Read more
