Baxter (NYSE:BAX) posted first-quarter earnings today that beat the consensus forecast on Wall Street, but its Q2 earnings outlook didn’t meet expectations. The Deerfield, Ill.–based medtech giant — maker of renal care products, drug delivery devices and more — reported profits of $300 million, or 58¢ per share, on sales of $2.946 billion for the […]
Baxter
8 medical device companies that beat the COVID-19 pandemic and prospered
Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread. Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was […]
How big medtech fared during a year of COVID-19
Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing/MassDevice analysis of financials. Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against […]
Companies, docs alarmed by proposed 510(k) rollback
Medical associations and device companies have largely come out against a Trump administration proposal to permanently exempt certain medical devices and software from the FDA 510(k) clearance process. HHS used Trump’s waning days in office to propose permanently exempting 83 Class II devices and one unclassified device from the clearance review process. The list includes home ventilators, […]
DTW Podcast: CEO Petrovic explains how Insulet is switching people to `Pods
Insulet CEO Shacey Petrovic says she didn’t jump immediately at the chance to join the company. In an interview with the DeviceTalks Weekly Podcast, Petrovic, who was serving as CEO of a women’s health company when CEO-Patrick Sullivan, her former boss at Cytyc, called her with an offer to serve as Insulet’s chief commercial officer […]
Baxter wins FDA clearance for AK 98 hemodialysis machine
Baxter (NYSE:BAX) announced today that it recieved FDA clearance for its next-generation artificial kidney 98 (AK 98) dialysis machine. Deerfield, Ill.-based Baxter’s AK 98 machine is designed as a portable and easy-to-use system to administer hemodialysis (HD) treatments. It offers encrypted, two-way connectivity to enable the system to pull prescriptions directly from the electronic medical record […]
Baxter to make Moderna COVID-19 vaccine in US
Baxter announced that its Baxter BioPharma Solutions business will make Moderna‘s COVID-19 vaccine at its fill/finish sterile manufacturing facilities in Bloomington, Ind. The plan — announced yesterday — is for Baxter to make 60–90 million doses of the Moderna vaccine in 2021. “We have seen a remarkable demonstration of scientific and health care expertise in […]
The top 7 medtech CEO quotes on COVID-19, one year later
The latest earnings season has provided insights into the future of medtech in the COVID-19 landscape and what certain sectors are seeing as vaccines start to roll out. Since the start of the pandemic, 113.1 million COVID-19 cases have been reported worldwide, according to Johns Hopkins University School of Medicine. The U.S. leads the world […]
MedTech 100 roundup: Index hits another all-time high
The beginning of February brought yet another peak for medtech stocks. MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29). The final mark for the week sets an all-time best for the index, which had […]
Baxter ticks up on Street-beating Q4 results
Baxter (NYSE:BAX) posted fourth-quarter results today that beat the consensus forecast on Wall Street. The Deerfield, Ill.-based company reported profits of $171 million, or 33¢ per share, on sales of $3.2 billion for the three months ended Dec. 31, 2020 — versus a loss of –$19 million, or –5¢ per share, on sales of $3.0 billion […]
How did medtech companies score on environmental stewardship list?
Medical Design & Outsourcing recently rated the world’s largest medical device companies — the Big 100 — for their sales numbers and R&D spend. Now we can share how some of them scored on an environmental nonprofit’s annual list of companies ranked for their actions on climate change. Not-for-profit organization CDP (Stockholm, Sweden) runs a global disclosure system for […]
