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. Hacker demonstrates insulin pump attack from 300 ft. away
A modern insulin pump can be hacked from 300 feet away and told to deliver a lethal dose of insulin, a hacker and researcher for computer security giant McAfee proved.
6. Johnson & Johnson’s Weldon to take $45M in 2012
Outgoing Johnson & Johnson (NYSE:JNJ) CEO William Weldon scored a 30% bump in pay for 2012 between a boost to his salary and to his annual bonus. Weldon will get just over $5 million in salary and bonuses this year, most of it coming from a $1.1 million increase in an annual bonus which will be paid 85% in cash and 15% in company common stock, according to regulatory filings.
5. Weight loss: GI Dynamics: U.S. clinical trial on tap for this year
GI Dynamics (ASX:GID), in its first earnings release as a publicly traded firm, said it’s hoping to start a U.S. clinical trial of its EndoBarrier weight-loss and diabetes device this year.
4. Olympus board resigns en masse
The new slate of directors for Olympus Corp. (TYO:7733) is already drawing fire from foreign investors in the endoscopy giant, after its entire board resigned en masse over a $1.7 billion accounting scandal that’s slashed its valuation by about 50% since October.
3. Buffett may back out of J&J
Investment tycoon Warren Buffet may be ready to ditch his stake in Johnson & Johnson (NYSE:JNJ), he said during a CNBC interview. J&J has "obviously has messed up in a lot of ways in the last few years," the chairman & CEO of Berkshire Hathaway (NYSE:BRK.A) said, referring to a slew of company recalls covering a range of products from hip implants to baby lotion.
2. MDUFMA: Industry and FDA leave the table with drafts in hand
The 3rd iteration of the FDA’s medical device user fee program rolls ever closer to finalization, as the watchdog agency and industry players move forward with a draft of the legislative language.
1. Stryker CEO: Rumors swirl over MacMillan’s departure
Former Stryker (NYSE:SYK) CEO Stephen MacMillan’s departure from the company may have come as the result of an extramarital affair with a former company employee, according to a report in the Wall Street Journal.
