In this week’s episode of DeviceTalks Weekly, Scott Whitaker, CEO and president of AdvaMed, shares concerns he had over how the federal government would work with the medtech industry during the pandemic crisis. Does he feel the medtech industry was treated fairly? How does he see the federal government and medtech industry working together in […]
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.
ResMed up on revenues boosted by ventilator sales
ResMed (NYSE:RMD) shares ticked up today on third-quarter results that topped the consensus forecast with COVID-19-influenced demand for ventilators. The San Diego-based company posted profits of $163.1 million, or $1.12 per share, on sales of $769.5 million for the three months ended March 31, 2020, for a 54.7% bottom-line gain on sales growth of 16.2%. Adjusted […]
Stryker beats The Street on Q1 results, warns of significant COVID-19 impact
Stryker (NYSE:SYK) shares dropped slightly today on first-quarter results that came in ahead of the consensus forecast. The Kalamazoo, Mich.-based orthopedic device company posted profits of $493 million, or $1.30 per share, on sales of $3.6 billion for the three months ended March 31, 2020, for a 19.7% bottom-line gain on sales growth of 2%. Adjusted […]
NASA-developed ventilator receives EUA
The FDA granted emergency use authorization (EUA) to a ventilator developed by NASA that is tailored for treating patients with COVID-19. NASA engineers developed the “ventilator intervention technology accessible locally” device, called “VITAL,” at NASA’s Jet Propulsion Laboratory in Southern California in an effort to free up traditional ventilators for use on patients with the […]
Teleflex beats The Street on sales, posts sharply higher profits
Shares in Teleflex (NYSE:TFX) dropped nearly 4% today, despite a first-quarter 2020 report that revealed Street-beating sales and skyrocketing profits. The Wayne, Pa.-based surgical and critical care device maker posted profits of $131.15 million, or $2.83 per share on sales of $630.64 million for the three months ended March 29, 2020, for a 220.68% bottom-line gain […]
Baxter beats The Street in Q1
Baxter (NYSE:BAX) shares ticked up slightly today on first-quarter results that topped the consensus forecast, despite a slight drop in year-over-year profits. The Deerfield, Ill.-based company posted profits of $333 million, or 64¢ per share, on sales of $2.8 billion for the three months ended March 31, 2020, for a 2.6% bottom-line slide on sales growth […]
Fauci: Hundreds of millions of COVID-19 vaccine doses could be ready in January
Dr. Anthony Fauci said this morning that hundreds of millions of doses of a vaccine for COVID-19 could be ready by January. In an interview on the Today Show, the director of the National Institute of Allergy and Infectious Diseases said that a vaccine candidate is in the first phase of a clinical trial. If […]
Johnson & Johnson pharma booms, medtech sinks in COVID-19-affected Q1
Johnson & Johnson (NYSE:JNJ) shares dipped today despite first-quarter results that topped the consensus forecast. The New Brunswick, N.J.-based company posted profits of $5.8 billion, or $2.17 per share, on sales of $20.7 billion for the three months ended March 29, 2020, for a 54.6% bottom-line gain on sales growth of 3.3%. Adjusted to exclude one-time […]
Abiomed stock up amid Street-beating Q4 profits, news of Breethe acquisition
Abiomed (NSDQ:ABMD) shares are up 10% in morning trading today after the company posted Street-beating Q1 results and announced the acquisition of Breethe and its potential coronavirus-fighting tech. The Danvers, Mass.-based maker of circulatory support devices — including Impella heart pumps — posted profits of $31.8 million, or 70¢ per share, on sales of $206.7 million […]
Hologic to launch new COVID-19 diagnostic across U.S.
Hologic (NSDQ:HOLX) announced late this afternoon that it will launch a second high-throughput molecular diagnostic test for the coronavirus (SARS-CoV-2). Investors reacted by sending shares in HOLX up 8.27% in after-hours trading. The Marlborough, Mass.-based company said it aims to produce at least 1 million Aptima tests per week to run on more than 1000 of […]
UPDATE: Medtech contract manufacturers make it work during a pandemic
From coping with wild fluctuations in demand to keeping workers safe and customers satisfied, these medical device industry suppliers have managed to adapt amid COVID-19 and an uncharted business environment. Medical device contract manufacturers are finding ways to keep business going during the coronavirus pandemic. Medical Design & Outsourcing recently conducted another round of an informal survey of […]