SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Shares of Smith & Nephew (NYSE:SNN) were on the rebound today after a downgrade by analysts at Citi sent them spinning down nearly 4 percent yesterday.
SNN shares closed Sept. 21 at $45.39, but opened at $43.88 the next morning, down 3.3 percent on news of the downgrade. The stock closed yesterday at $43.68, down 3.8 percent. Smith & Nephew closed out today at $44.57, up 3.0 percent from yesterday’s low-water mark of $43.28 but still 1.8 percent shy of Thursday’s close.
Cancer diagnostics firm Neoprobe Corp. (NYSE Amex:NEOP) gave up more than its radiation detection arm in a recent deal with Devicor Medical Products Inc.; it gave up its name.
The deal, worth $30 million up front and up to $20 million in royalties over the next six years, transforms Dublin, Ohio-based Neoprobe into a pure player radiopharmaceutical company, complete with a new identity.
Updated: 8/11/2011 1:15 p.m.
Kidney care services provider DaVita Inc. (NYSE:DVA) is taking on the environmental footprint left by its customers by launching a pilot program to recycle some of the waste from dialysis centers.
Hologic Inc. (NSDQ:HOLX) reported growth in sales and booming earnings its third quarter ended June 25, driven by increased revenues in its breast health sector, which includes its 3D mammography system.
Breast health revenues grew 8 percent to $205 million, compared to $189 million during the same period last year.
Becton, Dickinson & Co. (NYSE:BDX) picked a new man for the corner office this week with the announcement that Vincent Florenza will join the board of directors and take the reins from current board chairman and CEO Edward Ludwig on October 1, 2011.
A Johnson & Johnson (NYSE:JNJ) subsidiary allegedly issued a sham recall of its drug-eluting CoStar coronary stent and spiked a distribution deal with Biotronik AG that cost the German medical device giant $100 million, according to a lawsuit filed in New York’s highest court.
Medical device makers dropped at least $623,250 on the 2011-2012 election cycle, according to a MassDevice examination of a federal database that tracks corporate donations to legislators and political actions committees, known as PACs.
Abbott Laboratories (NYSE:ABT) alone accounted for more than 45 percent of the donations, spending a total of $282,000 — nearly $100,000 to individual members of Congress and the rest to various PACs, according to the Federal Election Commission’s online database.
A federal appeals court made it harder for defendants in patent infringement cases to use an "atomic bomb" defense tactic called inequitable conduct in a lawsuit between an Abbott (NYSE:ABT) subsidiary and Becton, Dickinson & Co. (NYSE:BDX).