Shire plc (NSDQ:SHPGY) became the latest firm to abandon its pursuit of a leg ulcer indication for the Dermagraft artificial skin patch, after a clinical trial failed to pan out.
Cynosure Inc. (NSDQ:CYNO) announced the $24.5 million acquisition of the assets of Japan-based HOYA ConBio’s aesthetic laser business today.
The Westford, Mass.-based cosmetic laser device maker adds HOYA’s proprietary PhotoAcoustic energy technology to its product portfolio, which also includes the SmoothShapes cellulite reduction system.
The PhotoAcoustic technology uses high-speed energy waves to penetrate skin in nanoseconds, minimizing the amount of heat in each procedure.
Plenty more news streamed out of the conference of the American Diabetes Assn. over the weekend, including progress toward an artificial pancreas, data on young diabetics at risk for heart disease and mobile apps for prevention and management of diabetes.
More than 13,500 people gathered in San Diego at the 71st annual scientific conference of the ADA to lead the fight against diabetes, a disease that affects more than 26 million children and adults in the U.S., according to the ADA.
MASSDEVICE ON CALL — Medtronic Inc.’s (NYSE:MDT) decision to cut ties with group purchasing organizations could cost them in sales.
Fridley, Minn.-based Medtronic is watching rival players step in to fill the vacated contracts, including St. Jude Medical Inc. (NYSE:STJ) and Biotronik Inc., each of which announced Novation deals for heart-rhythm devices in April.
Quintiles is resuming its plans to raise more than $2 billion in bank financing.
The Durham, N.C.-based, contract research organization is planning to enter into a new $2.2 billion credit facility, with proceeds from the borrowed funding being used to refinance $1.7 billion in existing debt, including an offer to buy $525 million of 9.5 percent outstanding senior notes that are due in 2014.
Organogenesis Inc. and Advanced BioHealing Inc. may win a new reimbursement code for their skin regenerating systems.
The Centers for Medicare and Medicaid Services proposed temporary, updated coding for artificial skin products in treating diabetic foot ulcers, slated to take effect in 2011.
The proposal would standardize the reimbursement codes for the Apligraf product made by Canton, Mass.-based Organogenesis and Advanced BioHealing’s Dermagraft, which now are reimbursed according to different schemes.