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.
3. Stryker plans $2B share buyback
Stryker said that its board of directors authorized a share repurchasing program worth up to $2 billion.
Kalamazoo, Mich.-based Stryker said it still has $583 million in stock buybacks authorized under a prior share buyback. Read more
2. Appeals court overturns lost profits award in Medtronic’s spat with NuVasive
A federal appeals court yesterday overturned the lost profits awarded to Medtronic in its long-running patent infringement war with spine implant rival NuVasive Inc.
The U.S. Court of Appeals for the Federal Circuit decided that a lower court erred in 2011 when it awarded Medtronic $101.2 million in the case, ordering a new trial to determine the correct amount of damages. Read more
1. FDA clears 1 Hospira plant, flags another
Hospira must deal with an FDA citation regarding a plant in India, even the federal safety watchdog lifted a warning on its infusion pump plant in Costa Rica.
Lake Forest, Ill.-based Hospira said in a recent regulatory filing that the FDA cited its pharmaceutical facility in Visakhapatnam, India, after an inspection last month. Hospira said it will respond to all of the as-yet-unnamed issues the FDA outlined in what is known as a Form 483, which regulators issue when they see potential violations. Read more
