The patent war over a female contraceptive device continues as Hologic (NSDQ:HOLX) seeks to overturn a $18.8 million patent loss and Conceptus’ (NSDQ:CPTS) pursues a permanent injunction to keep Hologic’s Adiana device off the U.S. market.
Conceptus Inc.
MassDevice.com +3 | MassDevice Q&A with Medtronic CEO Omar Ishrak, Judge strikes down Conceptus’ injuction against Hologic and CMS blames economy for health care spending drop
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Judge strikes down Conceptus’ request for an injunction against Hologic
Conceptus swaps out $50 million in senior notes | Funding Roundup
Conceptus (NSDQ:CPTS) swapped out $50 million worth of 2.25% senior notes due 2027 from a select group of holders, exchanging them for 5% notes due 2031, regulatory filings show.
The principal amount on the new notes was an even swap for the originals, which was determined in individual negotiations between Conceptus and the holders.
New Conceptus CEO expects boost from ACA | Wall Street Beat
The Affordable Care Act’s provision covering contraception could be an "inflection point" for Conceptus (NSDQ:CPTS) and its Essure female sterilization system, new CEO Keith Grossman told Leering Swann analysts last month.
Conceptus CFO reveals 2011 EBIDTA expectations | Wall Street Beat
Conceptus names new CEO, lowers 2012 guidance | Personnel Moves
In a sudden switch, Conceptus (NSDQ:CPTS) named Keith Grossman president & CEO upon the resignation of Mark Sieczkarek, whose departure was announced on the heels of lowered sales guidance for 2012.
Sieczkarek’s resignation, after 7 years at the helm, was announced simultaneously with Grossman’s appointment. Grossman will join the company’s board of directors, from which Sieczkarek also resigned.
Masimo plunges after missing Q3 earnings target | Earnings Roundup
Shares of Masimo Corp. (NSDQ:MASI) plunged more than 12 percent today after the patient monitoring device maker missed third-quarter earnings expectations and lowered its sales and earnings guidance for the rest of 2011.
MASI shares were trading at $19.61 as of about 1 p.m. today, down 12.1 percent.
Conceptus aims for injunction against Hologic in $19 million patent spat | MassDevice.com On Call
UPDATE: Hologic owes Conceptus $19M in patent fight
UPDATED 10/18/2011 with comment from Hologic
Wall Street Beat: Goldman Sachs raises COV estimate; Nygren shucks JNJ position, adds to BAX
MASSDEVICE WALL STREET ROUNDUP | One of Wall Street’s most notorious names raised its view of Covidien plc (NYSE:COV) today, setting a price target that’s 15 percent above yesterday’s closing price.
Although Goldman Sachs analysts stood pat on their “Buy” rating of the stock, which ended Monday at $52, they raised their price target to $60 and boosted the stock’s earnings estimate, ahead of the company’s plan to buy back up to 5 million shares of its own stock.
COV shares closed up 0.2 percent today at $52.08.
