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. J&J dodged years of warnings before recalling metal hips, lawsuit claims
Uncovered documents from the 1st of a slew of patient injury lawsuits to go to trial against Johnson & Johnson subsidiary DePuy Orthopaedics and its metal-on-metal hips suggest that company officials ignored warnings that the implants failed earlier than they should have, lawyers for the plaintiff claim.
6. U.S. Customs seized $83M worth of counterfeit medical devices, drugs in 2012
Counterfeit medical products accounted for 9% of all seizures by U.S. Customs and Border Protection last year, nearly 1/3 less than confiscated in 2011.
5. European medical device makers seek a compromise in new legislation
European medical device lobby Eucomed cedes that European medical device review needs an overhaul, but warns that a newly proposed "scrutiny panel" system without proper checks will hamper innovation without enhancing patient safety.
4. Industry groups commit to war against medical device tax as 1st due date arrives
The 1st payments on the 2.3% medical device tax are due today, but medtech lobbying groups aren’t fading in their drive for repeal.
3. Boston Scientific hits 52-week high
Shares of Boston Scientific hit their highest point in a year after the medical device company reported strong 4th-quarter and 2012 results.
2. Smith & Nephew blames device tax for new layoffs
Orthopedic devices maker Smith & Nephew plans to cut 100 employees in order to offset the cost of the medical device tax that took effect this year.
1. GPOs cry foul when device makers shift tax burden
More medical device buyers protest as they see some small manufacturers directly shifting the cost of the 2.3% medical device tax onto hospitals and other healthcare providers.