Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with MassDevice +7.
7. Abbott’s Q1 device sales slump on Boston Scientific stent royalty losses
Health care titan Abbott Labs’ Q1 device sales slump on decreasing royalty payments from Boston Scientific’s Promus stents.
6. Smith & Nephew shareholder faction opposes CEO Bohuon’s $2.5M “golden hello”
Nearly a third of Smith & Nephew’s shareholders fail to endorse a "golden hello" pay package for new CEO Olivier Bohuon; also, PhRMA taps Eli Lilly CEO Lechleiter for chairman; and Response Biomedical names new CEO.
5. St. Jude slumps along with its CRM sales
St. Jude Medical beats Wall Street’s expectations for Q1, but continued sluggishness in cardiac rhythm management sales chills investor confidence.
4. DePuy ASR recall takes $271M from J&J’s Q1 bottom line
Litigation expenses and recall costs related to Johnson & Johnson’s recall of the DePuy ASR hip implant cost the health care conglomerate $271 million in profits during the 1st quarter.
3. EU clears J&J’s $21B Synthes buyout
The European Commission clears Johnson & Johnson’s $21.3 billion buyout of orthopedics giant Synthes after J&J agrees to ditch its DePuy trauma operation to Biomet.
2. FDA: Safety, efficacy, public health – and economy?
The U.S. House version of a bill reauthorizing FDA review user fees would add employment and economic considerations to the federal watchdog agency’s mission statement.
Read more
1. EXCLUSIVE: Sen. hopeful Warren would repeal device tax
In an exclusive MassDevice.com editorial, Massachusetts Senate hopeful Elizabeth Warren (D) calls for a more transparent FDA, the repeal of the medical device tax and a renewed commitment to education and research to support the medical device industry.
