MASSDEVICE ON CALL — The medical device industry and the FDA’s Center for Devices & Radiological Health need to get their heads together to improve the med-tech approval process while ensuring patient safety, according to Se. Al Franken (D-Minn.).
Allergan
BD to deal labware biz to Corning for $730M | Wall Street Beat
Becton Dickinson & Co. (NYSE:BDX) said it agreed to sell its BD Biosciences – Discovery Labware unit to Corning Inc. (NYSE:GLW) for about $730 million in cash.
Medical Device Tax: Ten companies in line for a whack
The medical device tax set to take effect next year as part of the Affordable Care Act will see all medical device companies pay a 2.3% levy on U.S. sales. But the tax is likely to strike some companies a lot harder where it hurts the most: the bottom line.
Fujifilm closes $1B SonoSite deal | Wall Street Beat
Fujifilm Holdings (TSE:4901) said it closed its $54-per-share acquisition of SonoSite (NSDQ: SONO).
Globus Medical files for IPO | Wall Street Beat
Globus Medical filed for an initial public offering yesterday, saying it’s planning a reverse split of its existing stock just before the IPO launches.
The Audubon, Pa.-based orthopedic device maker, which ran afoul of the FDA last month, said it hopes to trade under the "GMED" ticker on the New York Stock Exchange.
Device tax spurs Hill-Rom to lay off 200 | Wall Street Beat
Hill-Rom Holdings (NYSE:HRC) said it will lay off about 3% of its workforce, or roughly 200 workers, as it maneuvers to confront the medical device tax set to go into effect next year.
MassDevice.com +3 | The top 3 med-tech stories for March 26, 2012.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Weight loss study: Bariatric surgery may treat Type 2 diabetes better than medicine
Gastric bypass and sleeve gastrectomy devices may be more effective in treating Type II diabetes than medication, according to a new study released at the annual meeting of the American College of Cardiology in Chicago today.
Breast implants: FDA clears new silicon implant despite consumer protests | Regulatory Roundup
Weight loss: Clinics halt Lap-Band surgeries amid controversy | MassDevice.com On Call
MASSDEVICE ON CALL — A pair of outpatient clinics in Los Angeles stopped offering weight-loss surgeries using the Lap-Band gastrointestinal device amid ongoing controversy over a marketing campaign.
The FDA late last year issued warning letters to 8 California surgical centers and the marketing firm 1-800-GET-THIN, citing them for running misleading Lap-Band ads without required risk information.
Edwards slides despite “strong” Q4, 2011 results | Earnings Roundup
Shares of Edwards Lifesciences (NYSE:EW) are down more than 6% in after-market trading despite a Wall Street-beating 4th quarter and full year.
Edwards posted profits of $63.1 million, or 53 cents per diluted share, on sales of $430.2 million during the 3 months ended Dec. 31, 2011, representing a sales increase of 9.6% but a bottom-line decline of 2.6%. Excluding 1-time items, EPS reached 62 cents, 3 pennies ahead of expectations on The Street.