Transvaginal mesh products may have their 510(k) clearance revoked and sellers like Boston Scientific Corp. (NYSE:BSX) and Johnson & Johnson (NYSE:JNJ) may have to submit new clinical safety data in order to keep the devices on the market.
C.R. Bard
BSX and AMS accused in transvaginal mesh lawsuit | MassDevice.com On Call
MASSDEVICE ON CALL — Boston Scientific Corp. (NYSE:BSX) and American Medical Systems Holdings Inc. (NSDQ:AMMD) found themselves at the center of a lawsuit claiming that transvaginal mesh products sold by the companies were defective and caused severe injuries to a patient.
The complaint cited mesh complications leading to body tissue erosion, a propensity to harbor infection and a tendency to migrate from the original implant site.
Bard CFO has one foot out the door, will retire when someone fills his shoes | Personnel Moves
C.R. Bard Inc.’s (NYSE:BCR) senior VP and chief financial officer Todd Schermerhorn announced his retirement after 26 years with the company.
Schermerhorn will continue to serve as CFO until the Murray Hill, N.J.-based company finds a replacement, which may take until August 2012.
Edwards can’t seem to please The Street | Earnings Roundup
Shares of Edwards Lifesciences Corp. (NYSE:EW) continued to slide on Wall Street for the second straight day, despite positive earnings and a favorable FDA panel vote that should clear the way for the company to launch the Sapien transcatheter heart valve in the U.S.
Hernia lawsuits swallow C.R. Bard’s bottom line, share price pounded on Wall Street
The nearly $185 million legal bill C.R. Bard Inc. (NYSE:BCR) paid to settle most of the lawsuits against subsidiary Davol Inc.’s hernia repair products pushed the company into the red during the second quarter and sent its share price tumbling on Wall Street today.
The Murray Hill, N.J.-based company reported a $47.8 million loss on $725 million in sales during the three month period ended June 30, 2011, reversing a $124.7 million profit on $673.9 million in sales the company reported during the same period last year.
C.R. Bard pays out $184 million in hernia repair product lawsuit
C.R. Bard Inc. (NYSE:BCR) will pay $184 million to settle most of the lawsuits against subsidiary Davol Inc.’s hernia repair products.
Through late last year, more than 2,700 plaintiffs had filed suit in either federal or state courts pursuing product-liability claims for personal injuries, with most of those cases since transferred to the U.S. District Court for Rhode Island.
Stent Wars: $22M Spectranetics win could cost J&J’s Cordis even more | Legal Roundup
Hospital GPOs are still alive and well
When medical device goliath Medtronic Inc. (NYSE:MDT) canceled $2 billion worth of supply contracts with group purchasing organization Novation LLC in February, Wall Street analysts speculated that it might be the start of a larger trend of medical device industries bucking GPOs.
Silverglate: FDA can slap device executives with felony counts
If you’re working on a medical device that’s new and unprecedented, you might be a prime target for government litigation, according to Harvey Silverglate, a Cambridge attorney who specializes in civil liberties litigation, criminal defense and student rights.
Baxter’s back into the black after 12 percent sales bump | Earnings roundup
Japan earthquake hurts medical device makers
In Japan, they’re dealing with a death toll sure to rise above 10,000, rolling blackouts and a nuclear disaster of as-yet-undetermined proportions. On Wall Street, investors in medical device makers are contending with issues of their own, as share prices slide and the long-term impact of the Japan earthquake remains unknown.