Shares in Alere (NYSE:ALR) ticked up today after the diagnostics giant reported its long-delayed financial results ahead of its $6 billion union with Abbott (NYSE:ABT). Alere, which last month cut its outlook for the rest of the year amid a probe of accounting snafus in Africa and China, said in a press release that it found “immaterial errors” […]
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Former AcuFocus CEO Mazzo moves to head Ophthamology at Zeiss | Personnel Moves, July 28, 2016
Former AcuFocus CEO Mazzo moves to head Ophthamology at Zeiss Carl Zeiss Meditec (ETR:AFX) said this week it tapped ex-AcuFocus CEO James Mazzo as the global president of its ophthalmology business as well as managing the entire company’s U.S. sales and service center. Mazzo comes from a 3-year run as president and CEO at AcuFocus, where […]
India’s proposed stent pricing cap said to squash new product introductions
India’s move toward capping the price on coronary stents reportedly has medical device makers rethinking their strategies there and even shelving new product rollouts. “With price controls, margins of all players including manufacturers will be impacted. Global stent makers may scale back introducing their top-of-the-line brands and launch value products instead,” Rana Mehta, healthcare leader at PwC […]
Abbott rises on Q2 earnings, sales beats
Abbott (NYSE:ABT) saw its stock rise today after reporting earnings and sales that came in above the consensus outlook on Wall Street. The Abbott Park, Ill.-based healthcare giant posted profits of $812 million, or 41¢ per share, on sales of $5.33 billion for the 3 months ended June 30, for a bottom-line gain of 3.3% […]
FDA approves Abbott’s Tecnis Symfony lens for cataracts
The FDA last week granted pre-market approval to the Tecnis Symfony intraocular lens made by Abbott Medical Optics (NYSE:ABT) for treating patients with cataracts. The device is the 1st intra-ocular lens to provide extended depth of focus for better vision at near, intermediate and far distances, the federal safety watchdog said. Abbott said the FDA […]
Health Canada approves Abbott’s Absorb bioresorbable stent
Abbott (NYSE:ABT) said yesterday that Health Canada approved its Absorb bioresorbable coronary stent. The Absorb everolimus-eluting stent, which is designed to dissolve completely after approximately 3 years, won pre-market approval from the FDA earlier this month. “Abbott’s goal is to help people everywhere live better, fuller and healthier lives,” vascular senior vice president Deepak Nath said in prepared remarks. “The Absorb […]
Alere cuts outlook as it probes accounting snafu
Alere (NYSE:ALR) yesterday cut its outlook for the rest of the year and said it plans to filed its delayed annual report for 2015 “as soon as practicable” as it probes accounting snafus in Africa and China. The Waltham, Mass.-based diagnostics giant said it now expects to post sales of $2.45 billion, down from its prior […]
Anti-trust regulators want more on Abbott’s pending, $25B St. Jude Medical buyout
Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ) said yesterday that U.S. anti-trust regulators want more information about their proposed $25 billion merger. The Federal Trade Commission’s requests mean that the waiting period on the deal is extended by 30 days “unless the period is extended voluntarily by the parties or terminated sooner by the FTC,” the […]
Report: Medtech M&A values up sharply in 1st half of 2016
The cumulative value of mergers & acquisitions in the medical device space jumped nearly 50% during the 1st half of 2016, even as the total number of deals fell at a double-digit clip, according to MergerMarket. There were some 394 deals worth a total of $74.5 billion during H1 2016, according to the report, marking […]
Abbott wins FDA nod for Absorb stent
Abbott (NYSE:ABT) said today it won FDA premarket approval for its Absorb bioresorbable everolimus eluting heart stent, touting it as the 1st fully dissolving stent approved for treating coronary artery disease. The newly cleared stent is designed to dissolve completely after approximately 3 years after serving to keep clogged arteries open and promote healing in […]
Abbott touts data from rotor-ablation AF trial
Abbott (NYSE:ABT) today announced results from 3 clinical studies of focal impulse rotor modulation guided rotor ablation for treating atrial fibrillation using the company’s RhythmView technology, touting high rates of freedom from AF. Results from the investigator-sponsored studies, which explored the benefits of FIRM-guided rotor ablation combined with traditional AF care, were presented at Cardiostim-EHRA […]