Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Baxter stock moves up on delayed Q4 results
Baxter (NYSE:BAX) shares ticked up today on fourth-quarter results that topped the consensus forecast after delayed reporting because of an internal probe. Shares of BAX were up 10.4% at $78.98 in early-afternoon trading today. The Deerfield, Ill.–based company posted losses of -$19 million, or -5¢ per share, on sales of $3.04 billion for the three months […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
Baxter delays 10-Q report filing again
Baxter (NYSE:BAX) today filed an SEC Form 12b-25 to confirm that it was unable to file its annual financial report on Form 10-K for the year ended Dec. 31, 2019, within the prescribed time period. The company requires additional time to complete the restatement of its previously issued financial statements, according to the Form 12b-25. The […]
Baxter wins FDA nod for next-gen staple-line reinforcements
Baxter (NYSE:BAX) announced today that it received FDA 510(k) clearance for the new generation of its Peri-Strips Dry with Veritas collagen matrix (PSDV) staple-line reinforcement material. The “PSDV with secure grip” is now available with peel-and-secure technology. Baxter touts the new generation of the product as two times faster in preparation when compared to the previous […]
Baxter completes Seprafilm acquisition
Baxter (NYSE:BAX) today said it completed the acquisition of Seprafilm Adhesion Barrier and its assets from Sanofi in a deal worth $350 million. Seprafilm is used as an adjunct to reduce the incidence, extent and severity of adhesions in pelvic and abdominal surgeries, according to the company. It is commercially available in the U.S., Japan, […]
Baxter probe finds $276 million in overstated income
Baxter (NYSE:BAX) says its income for the past four years may have been overstated by $276 million. The Deerfield, Ill.–based healthcare products company said the figures came out of a previously announced internal probe into its foreign exchange trading practices. That investigation is now substantially complete, the company said in an SEC filing yesterday. Baxter said […]
Baxter, Cosmed win FDA clearance for portable metabolism monitor
Baxter (NYSE:BAX) announced that it won FDA 510(k) clearance for the Q-NRG+ metabolic monitoring device developed by its partner Cosmed for helping with nutrition therapy. Q-NRG+ uses indirect calorimetry (IC) technology to measure a patient’s calorie needs or resting energy expenditure (REE). Together, those readings can be used to inform prescription and administration of nutrition therapy, […]
Baxter rises after Street-beating preliminary 4Q sales results
Baxter (NYSE:BAX) shares were up today after the company reported preliminary net sales for the fourth quarter of fiscal 2019 that topped the Wall Street consensus. The Deerfield, Ill.-based company posted net sales of $3 billion for the fourth quarter, marking 7% growth on a reported basis and 9% growth on an operational basis. That number […]
Baxter spending $350m to acquire surgical adhesion barrier tech from Sanofi
Baxter (NYSE:BAX) said today that it will buy the Seprafilm adhesion barrier and related assets from Sanofi (NYSE:SNY) in what is expected to be a $350 million deal. The purchase is expected to close no later than the first quarter of 2020. A Bloomberg report in October hinted that a deal might be in the work. “While […]
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