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 […]
coronavirus
Here at MassDevice — medtech's online business journal — we're covering news about the coronavirus (COVID-19) pandemic daily. Here is the latest about coronavirus and the medical device industry, regulatory changes related to the pandemic, new tests for the virus, vaccine development, and much more.
Hologic receives $119M contract from U.S. Air Force for COVID-19 molecular tests
Hologic (NSDQ:HOLX) announced that it received a $119 million contract from the U.S. government to expand production of its COVID-19 tests. Under the contract, Hologic will increase the production capacity of its Panther Fusion SARS-CoV-2 assay and Aptima SARS-CoV-2 assay, both of which possess emergency use authorization, according to a news release. The tests run on […]
MedTech 100 roundup: Stocks continue to plummet
Stocks in the medtech industry hit a wall two weeks ago, and it’s been a quick drop for them ever since. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 91.01 (Oct. 30), marking a 6.4% drop from the 97.02 points registered at the end […]
ResMed shares get boost from Street-beating Q1
ResMed (NYSE:RMD) shares ticked up today on first-quarter results that came in well ahead of the consensus forecast. RMD shares were up 6.6% at $191.33 per share in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -1.1%, while the Dow Jones Industrial Average […]
Pfizer dips on bottom-line slide, missed revenue projections
Pfizer (NYSE:PFE) shares fell today on third-quarter results that came up short of the consensus revenue forecast. The New York-based company posted profits of $2.2 billion, or 39¢ per share, on sales of $12.1 billion for the three months ended Sept. 30, 2020, for a -71.4% bottom-line slide on a sales decline of -4.3. Adjusted to […]
NIAID halts Lilly COVID-19 antibody study
An arm of NIH has ended a clinical trial investigating the use of Eli Lilly’s (NYSE:LLY) monoclonal antibody LY-CoV555 (bamlanivimab) to treat hospitalized COVID-19 patients. While the drug shows promise in treating mild-to-moderate COVID-19 infections, the ACTIV-3 trial involving severe cases of the disease showed little benefit, according to the National Institute of Allergy and Infectious Diseases […]
3M slightly down despite Street-beating Q3
3M (NYSE:MMM) shares took a slight dip today on third-quarter results that finished ahead of the consensus forecast. The St. Paul, Minn.-based company posted profits of $1.4 billion, or $2.43 per share, on sales of $8.4 billion for the three months ended Sept. 30, 2020, for a -10.7% bottom-line slide on sales growth of 4.5%. Adjusted […]
FDA clears Abiomed compact cardiopulmonary bypass system
Abiomed (NSDQ:ABMD) announced today that FDA has granted a 510(k) clearance for its Breethe OXY-1 system — which among other things could help treat people with severe cases of COVID-19. The Abiomed Breethe OXY-1 system is an all-in-one, compact cardiopulmonary bypass system. It provides cardiopulmonary bypass support for people whose lungs are no longer able to […]
MedTech 100 roundup: Stocks down today as COVID-19 surges
The stocks of the world’s largest medical device companies are –1% in morning trading today as markets dropped in response to surging COVID-19 cases and a stalled U.S. economic stimulus package. MassDevice’s MedTech 100 Index is actually performing better than the overall market. As of the late morning, the Down Jones Industrial Average is –2.56%, and […]
FDA approves remdesivir as a COVID-19 treatment
The FDA announced that it fully approved the use of remdesivir as a treatment for COVID-19 requiring hospitalization in all adult and some pediatric patients. Remdesivir is only to be administered in a hospital or healthcare setting capable of providing acute care comparable to inpatient hospital care. The drug, also referred to by the FDA […]
5 things you need to know about FDA and COVID-19 vaccines
There was no clear bombshell in the first meeting of an FDA advisory committee dedicated to COVID-19 vaccines. There were, however, several conclusions. Known as the Vaccines and Related Biological Products Advisory Committee (VRBAC), the meeting yesterday provided an overview of the steps medical and government authorities are taking to approve COVID-19 vaccines. Go to […]