A former Advanced BioHealing executive who admitted to federal charges that he bribed U.S. Veterans Affairs Dept. doctors to use the company’s DermaGraft biologic wound dressing last week drew probation in the case. Federal had prosecutors accused Todd Clawson, who left the company in 2012, of participating in a scheme to bribe VA physicians to use the DermaGraft diabetic […]
Advanced BioHealing Inc.
Shire to pay feds $350m to settle DermaGraft kickbacks case
The U.S. Justice Dept. said yesterday that Shire (NSDQ:SHPG) and its subsidiaries will cough up $350 million to settle allegations that Shire and the company it acquired in 2011, Advanced BioHealing, gave kickbacks to clinics and physicians in exchange for using its bioengineered human skin substitute, Dermagraft. “This settlement represents the largest False Claims Act recovery by the […]
Former Advanced BioHealing exec Clawson pleads guilty in VA fraud case
Former Advanced BioHealing executive Todd Clawson last week pleaded guilty to federal charges that he bribed U.S. Veterans Affairs Dept. doctors to use the company’s DermaGraft biologic wound dressing. Federal prosecutors accused Clawson, who left the company in 2012, of participating in a scheme to bribe VA physicians to use the DermaGraft diabetic foot ulcer treatment with a […]
Shire expands regenerative medicine biz with Lotus Tissue Repair acquisition
Shire (NSDQ:SHPGY) said it aquired Cambridge, Mass.-based Lotus Tissue Repair, which is developing the 1st protein replacement therapy to treat dystrophic epidermolysis bullosa, a rare genetic disease.
The purchase includes an upfront payment and later milestone payments, but specific details were not released.
Shire bets big on regenerative medicine, eyeing a $1B return | Wall Street Beat
Video: AdvaMed’s Nexon on pricing pressures in healthcare | MassDevice.com On Call
MASSDEVICE ON CALL — Things aren’t going to get any easier in the healthcare industry in the near future regardless of what the Supreme Court rules on the Affordable Care Act, AdvaMed executive vice president David Nexon says in an interview:
Shire adds Pervasive Therapeutics to regenerative portfolio | Wall Street Beat
Will Advanced BioHealing pay off for Shire with a buyout deal? | Wall Street Beat
Buyout chatter pushed shares of Shire plc (FTSE:SHP) up nearly 2% in London yesterday and added 1.4% on Wall Street.
Thoratec soars after killing it in Q3 | Earnings Roundup
Thoratec (NSDQ:THOR) shares are up more than 11% today after the heart pump maker put mid-double-digit profit growth numbers on the board for the 4th quarter and full-year 2011.
The Pleasanton, Calif.-based cardiac assist device maker logged profits of $15.3 million, or 25 cents per diluted share, on sales of $109.4 million for the 3 months ended Dec. 31, 2011. That’s a 46.4% bottom-line gain and a top-line boost of 12.1%, compared with profits of $10.5 million, or 17 cents diluted EPS, on sales of $97.6 million during Q4 2010.
BMW develops health-check steering wheel to monitor physical and emotional duress | MassDevice.com On Call
MASSDEVICE ON CALL — Your car may be able to monitor your physical and mental health as you travel, thanks to a steering wheel developed by Germany’s BMW Group in collaboration with university researchers.
The steering wheel incorporates sensors that monitor vital signs and stress levels using metrics like heart rate and blood oxygen saturation, and take measures to reduce distractions or slow down the vehicle.
Diabetes epidemic keeps Dermagraft relevant despite failed clinical trial, Shire CEO says
Skyrocketing rates of diabetes mean there’s still strong demand for Shire plc’s (NSDQ:SHPGY) Dermagraft diabetic foot ulcer treatment, according to CEO Angus Russell.
Russell defended the product despite a failed clinical trial that the company cut short late last month.