Abbott (NYSE:ABT) has obtained a temporary restraining order against a former marketing executive. The company alleges the former employee stole trade secrets, including details of upcoming COVID-19 products, before accepting a role at a competitor. Virginia Kendall, a U.S. District Judge for the Northern District of Illinois, decided to grant the two-week restraining order against Jerome […]
Bio-Rad Laboratories
Bio-Rad Laboratories appoints new head of clinical diagnostics group
Research and clinical diagnostics company Bio-Rad Laboratories (NYSE:BIO) announced that it has appointed Dara Grantham Wright as its executive VP and president of the clinical diagnostics group in a move made effective on Jan. 1. Grantham Wright is taking over for John Hertia, who retired from the position on Dec. 31, 2019. Her responsibilities include providing […]
Bio-Rad recovering from ransomware attack
Bio-Rad Laboratories (NYSE:BIO) said late Friday afternoon that it is making good progress recovering from a ransomware attack that was detected on the company’s network on December 5. The company did not reveal the hacker’s demands, if any. Once the malicious software was detected, Bio-Rad immediately took certain systems offline, the company said in a […]
Bio-Rad whistleblower case heads back to court on appeal
A federal appeals court panel dealt the former general counsel for Bio-Rad Laboratories (NYSE:BIO) a blow, slicing his $11 million jury award by $6 million and sending his whistleblower retaliation lawsuit back to U.S. District Court for a possible new trial. The three-judge panel sitting in San Francisco ruled that the U.S. District Court judge in […]
Bio-Rad, UChicago win $24m in patent infringement case
Bio-Rad Laboratories (NYSE:BIO) this week touted a joint legal victory with the University of Chicago in a US Federal District court against rival 10X Genomics, saying that it was awarded $23.9 million in damages in a patent infringement case. The jury in the trial unanimously found that 10X Genomics willfully infringed on Bio-Rad and Univ. of Chicago […]
Bio-Rad to pony up $3.5m for ex-GC’s legal fees; misses on Q4 earnings
Bio-Rad Laboratories (NYSE:BIO) agreed to pay $3.5 million in legal fees for the team that represented former general counsel, Sanford Wadler, during a whistleblower retaliation lawsuit Wadler brought against his former employer. The company said it plans to cover “reasonable” attorney fees and expert witness fees and costs, according to an order signed by U.S. […]
Patent board invalidates RainDance patent for obviousness
The Patent Trial and Appeal Board invalidated a RainDance Technologies patent earlier this week for obviousness. The patent, which covers a method for manipulating the size of liquid droplets used in microfluidic diagnostic tests, was challenged by manufacturer 10X Genomics Inc. The panel, after conducting an inter partes review, found that the technique’s characteristics, which […]
Bio-Rad Laboratories to acquire RainDance Technologies
Bio-Rad Laboratories (NYSE:BIO) said yesterday that it inked a definitive agreement to acquire RainDance Technologies for an undisclosed amount. The Hercules, Calif.-based company said it expects the transaction to close in the 1st quarter of 2017 and that it will reveal the terms of the acquisition when it discusses its 4th quarter and full-year financial […]
Bio-Rad picks up cytometer platform from Propel
Bio-Rad Laboratories (NYSE:BIO) said today it acquired Propel Labs high performance analytical flow cytometer platform, with a planned instrument launch from the acquisition later this year. Flow cytometry is a technique used to identify and sort cells and their components, Hercules, Calif.-based Bio-Rad Laboratories said. “We welcome the opportunity to expand our relationship with Propel […]
Moody’s estimates med-tech tax impact
The 2.3% tax on revenues slated to go into effect next year for medical device makers could top $650 million for the med-tech companies covered by Moody’s Investor Services, according to a report by the ratings agency.
The tax will help slow EBIDTA growth rates for the med-tech sector to between 1% and 4% over the next year to 18 months, according to Moody’s, with organic growth rates of between 2% and 3% during that period.
NuVasive closes Impulse Monitoring deal | Acquisitions Roundup
NuVasive (NSDQ:NUVA) closed its $80 million pickup of Impulse Monitoring Inc. last week, according to a filing with the federal Securities & Exchange Commission.
The deal, which closed Oct. 7, saw IMI’s shareholders receive nearly $40.5 million in cash and more than 2.3 million shares of NuVasive common stock with an aggregate value of about $40.5 million (per NUVA’s Oct. 6 closing share price of $17.32).
