Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 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.
Mylan said today that it agreed to pay $5.3 billion to Abbott for its non-U.S. developed markets specialty and branded generics business in an all-stock deal.
Once consummated, the deal would see Abbott receive 105 million shares of the combined company, for a roughly 21% stake in the new entity. Read more
Allergan went on the offensive again today in its battle against a hostile takeover bid by Valeant Pharmaceuticals and its hedge fund partner, Pershing Square Capital Management, demanding more transparency from Valeant about its business and prospects for growth – even as Valeant today filed a pre-merger notification with the U.S. Federal Trade Commission.
Allergan said it wants answers to questions raised by it and “important members of the investment community” about “Valeant’s anemic organic growth driven by unsustainable price increases, among other fundamental business model issues.” Read more
Federal medical device regulators issued new draft guidance this week hoping to clarify the agency’s process for determining the benefits and risks of 510(k) devices.
The new guidance wouldn’t change any of the FDA’s existing policies for evaluating 510(k) submissions, but the agency hopes the document will help device makers better understand the agency’s thinking. Read more