Four U.S. Senators yesterday wrote the FTC urging a probe into possible illegal saline price inflation of 200-300% since a shortage of the fluid began in late 2013. The letter, sent to FTC chairwoman Edith Ramirez, was signed by Conn. dem senator Richard Blumenthal, Minn. dem Amy Klobuchar and Utah reps. Mike Lee and Orrin […]
Baxter
UPDATE: Baxter ticks up on Q3 beat, plans to lay off 1,400
UPDATED Oct. 27, 2015, with layoff news. Baxter (NYSE:BAX) shares ticked up on Wall Street today after the medical products giant beat expectations with its 3rd-quarter results and raised its earnings outlook for the rest of 2015, despite a quarterly profit slide of nearly 100%. Deerfield, Ill.-based Baxter also plans to cut about 1,400 jobs by […]
Baxter adds Boston Scientific CEO Mahoney to board | Personnel Moves
Baxter (NYSE:BAX) said today that it named Boston Scientific (NYSE:BSX) CEO Mike Mahoney to its board of directors. Mahoney, who engineered a significant turnaround at Boston Scientific, was tapped to serve on Baxter’s governance and compensation committees. “Mike’s significant knowledge of the global medical products business and his track record of leadership will make a significant contribution […]
Baxter to expand in Arkansas, adds 225 jobs
Baxter (NYSE:BAX) said last week it is expanding its facilities in Mountain Home, Ark., adding an estimated 25,000 square feet and 225 jobs. The company’s 550,000-square foot facility in Arkansas already employs 1,000, and is 1 of the company’s largest plastics and medical device manufacturing plants, according a press release from the Arkansas Economic Development Commission. […]
Baxter wins FDA nod for Amia dialysis device
Baxter (NYSE:BAX) said yesterday that it won 510(k) clearance from the FDA for its Amia automated peritoneal dialysis system, saying it plans to launch the device in the U.S. this year. The Amia device, which uses Deerfield Park, Ill.-based Baxter’s ShareSource web-based remote connection, is designed for home use by patients with end-stage renal disease. Baxter claimed […]
Baxter gets in on Harvard spun-out Opsonix
New Harvard spin-out blood pathogen-extracting device developer Opsonix said it raised $8 million in its Series A round upon launching, led by Baxter (NYSE:BAX) Ventures. Opsonix is developing a device to remove infectious pathogens and toxins from circulating blood, to treat blood-borne infectious diseases,including sepsis, the Cambridge, Mass.-based company said. “Opsonix’s pathogen-extracting therapy provides a novel […]
Haemonetics CEO Concannon steps down | Personnel Moves
Haemonetics (NYSE:HAE) said yesterday its CEO Brian Concannon resigned to pursue other opportunities and will be replaced by board member Ronald Gelbman, who will serve as interim CEO. The company said Concannon will remain with Haemonetics through the end of October to “ensure a seamless transition,” while the board searches for a permanent replacement. “Ron’s intimate […]
Baxalta wants Shire to boost $30B takeover bid
(Reuters) — Baxalta (NYSE:BXLT), the spinout of Baxter‘s (NYSE:BAX) biopharmaceuticals division, wants Shire (NSDQ:SHPGY) to improve on its $30 billion bid significantly before it will engage in talks, while its Dublin-based rival could sweeten its offer if it gets to see the U.S. biotech company’s books, according to sources on both sides. Both camps are pushing hard behind […]
BrainScope wrangles up new C-suite | Personnel Moves
Brainscope today announced a number of new assignments to its executive roster, assigning 4 new picks to its c-suite. The Bethesda, Ma.-based neurotech company picked up Dr. Leslie Prichep as chief scientific officer, Kerstin Schultz as president and COO, Angad Singh as chief technology officer, and promoted Laurie Silver to CFO. “These additions to our leadership team will help […]
Hedge fund wants a say in Parkinson’s replacement at Baxter
Third Point, the hedge fund led by Daniel Loeb that’s the largest shareholder at Baxter (NYSE:BAX), wants a say in selecting the replacement for Robert Parkinson Jr., who last month said he’s stepping down now that the spinout of its Baxalta pharmaceuticals division is complete. In a letter to Parkinson and lead director Thomas Stallkamp, Loeb said Third Point’s $2 […]
Baxter beats the The Street, CEO Parkinson to bow out
Baxter (NYSE:BAX) managed to beat expectations on Wall Street with its 2nd-quarter results, despite a more than 36% bottom-line slide, saying longtime CEO Robert Parkinson Jr. plans to step down now that the spinout of its Baxalta pharmaceuticals division is complete. Deerfield, Ill.-based Baxter posted profits of $332 million, or 60¢ per share, on sales of […]