InVivo shares soar on spinal cord study update

November 13, 2014 by Val Kennedy

InVivo Therapeutics shares soared more than 40% this week after Arizona doctors confirmed they had treated the 1st patient in a study of the company’s experimental bio-scaffolding device for acute spinal cord injuries.

The stock, which began the week at around $1 a share, hit $1.43 Nov. 12, the day after researchers released the update. InVivo shares closed at $1.34 apiece today. Read more

Actavis trumps Valeant with $66B offer for Allergan

November 17, 2014 by Brad Perriello

Actavis trumped by $12 billion the hostile takeover bid for Allergan by Canada’s Valeant Pharmaceuticals and William Ackman’s Pershing Square Capital Management, offering $219 per share for the Botox maker.

Actavis and Allergan said today that they’ve come to terms over the $66 billion deal, consisting of $129.22 in cash and 0.3683 Actavis shares for each AGN share. Read more

Medtronic's Q2 results meet The Street

November 18, 2014 by Brad Perriello

Medtronic today reported 2nd-quarter results that met expectations on Wall Street.

The Fridley, Minn.-based medical device giant posted profits of $828 million, or 83¢ per share, on sales of $4.37 billion for the 3 months ended Oct. 24. Adjusted to exclude 1-time items, earnings per share were 96¢, in line with expectations on Wall Street, where analysts were also looking for revenues of $4.37 billion. Read more

Venture capital investment in medtech grows in Q3

November 18, 2014 by Brad Perriello

Venture capitalists put more cash into more deals for medical device companies during the 3rd quarter, according to a report from PricewaterhouseCoopers.

Medical device companies pulled down $586 million in 78 deals during the 3rd quarter, up 13% in dollars and 18% in deal volume compared with Q3 2013. Read more