The U.S. medical device industry is facing nearly $1 billion in tariffs from the Trump administration, about $4 billion less than what was originally expected, according to AdvaMed. Customs and Border Protection began collecting the additional duties on July 6. The Trump administration announced in April that it intended to impose tariffs on $50 billion […]
Trump’s tariffs on $34B of Chinese products kick in
Tariffs imposed by President Donald Trump on $34 billion of Chinese goods, including a slew of medical devices, went into effect on Friday. China immediately retaliated, kicking off tariffs of equal size for American goods. Trump said this week that his administration will implement tariffs for another $16 billion worth of Chinese goods in the […]
Trump tariffs leave medical device companies in the dark
U.S. medical device industry representatives, for now, appear to be taking a wait and see approach as President Donald Trump’s administration wrangles over trade policy and threatens tariffs against China. The status of China tariffs on medical devices is unknown at this time as the Trump administration continues to make changes to its trade policies […]
US medtech companies lobby against proposed Chinese tariffs
US medtech firms, including GE Healthcare (NYSE:GE) and the thriving Minnesota-based medtech sector, are concerned that tariffs on Chinese products proposed by President Trump could significantly affect their business, according to two reports released this week. GE Healthcare executives are worried that the tariffs could hurt the competitiveness of its products, including its magnetic-resonance imaging units which […]
Medin Technologies taps Donaldson as CEO | Personnel Moves – April 25, 2017
Medin Technologies said last week it tapped Bill Donaldson as its new chief executive officer, replacing Andy Novotny who is resigning from his position at the head of the company. Prior to joining Medin Technologies, Donaldson served as president of Jeld-Wen Canada, leading the business unit during its parent company’s initial public offering, Totowa, N.J.-based […]
Sunrise Labs executes succession plan | Personnel Moves – April 5, 2018
Medical device and life science development group Sunrise Labs said this week that it completed its succession plan, with president Eric Soederberg acquiring the majority of shares in the company through a stock sale with founder and board chair Drew Sunstein. With the transaction, the Bedford, N.H.-based company said that it secured its planned ownership […]
Medtech, healthcare stakeholders offer ideas to improve FDA oversight, regulation and patient access
Major players and medtech industry groups have offered their opinions as the FDA looks to review and improve its information collection requirements and regulatory oversight. Commentary came in from companies Johnson & Johnson (NYSE:JNJ), Abbott (NYSE:ABT) and Cook Medical and industry groups AdvaMed, the Medical Imaging & Technology Alliance, the Pharmaceutical Research and Manufacturers of America and […]
India’s medical device industry protests NPPA stent price caps
Indian medical device manufacturers and associations are voicing their opposition to price caps on stents and other devices imposed by India’s National Pharmaceutical Pricing Authority, according to a report from the Economic Times India. The price cap has reportedly left little to no room for innovation in the country, with industry groups now demanding an […]
Senate confirms former pharma exec Azar as Trump’s HHS chief
The Senate voted 55-43 today to approve president Donald Trump’s nominee for chief of the Dept. of Health and Human Services, Alex Azar. Azar is succeeding Tom Price, who was forced out after reports from Politico revealed he often used pricey charter jets on the taxpayer’s dime. Senate Republicans have argued that Azar, who previously worked as president of Eli […]
AdvaMed asks Trump to overturn medical device tax
AdvaMed CEO Scott Whitaker penned a letter to Donald Trump today, urging the president to work with Congress to overturn the medical device tax. Whitaker congratulated Trump on today’s passage of the Republican-backed tax plan, while noting that Congress has failed to suspend the 2.3% levy imposed on U.S. medical device sales by the Affordable Care […]
Report: Value-based medtech payment models lack appropriate quality measures
A new report from Discern Health and supported by industry group AdvaMed claims that current value-based payment models lack quality measures which effectively assess medical technology value. In the report, investigators identified what they claimed to be “significant gaps” in eight clinical areas it studied that included medical devices indicated to treat those conditions. Report […]
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