Minnesota medical device maker Vascular Solutions (NSDQ:VASC) wasn’t able to dodge a federal off-label marketing lawsuit over its Vari-Lase varicose vein treatment devices, the company revealed in its latest financial report.
But the Murray Hill, N.J.-based medical device company still managed to exceed Wall Street’s expectations with its adjusted earnings, leading investors to keep BCR shares about flat today in mid-morning trading.
Although there are still plenty of major healthcare companies left to report first quarter earnings, the early returns are not too positive on the sector. The themes that dominated last year, weak procedural volume and relentless pressure on pricing and reimbursement, seem very much in play. That makes margin leverage and a healthy product launch portfolio even more important in the short term.
GE Healthcare posted Q1 profits of $595 million on sales of $4.29 billion, up 1.7% and down 0.3%, respectively, compared with Q1 2012.
Danvers, Mass.-based Abiomed said preliminary sales for the 3 months ended March 31 were $43.7 million, up 17% over the $37.3 million posted during Q4 2012.
Full-year sales rose 25% to $157.1 million, compared with $126.4 million during fiscal 2012, according to a press release.