Delaware’s Supreme Court ruled last week to uphold a decision by the state’s Chancery Court that Fresenius (ETR:FRE) could walk away from its $4 billion merger with Akorn (NSDQ:AKRX). The initial deal was designed to help Fresenius move into new therapeutic areas and dosage forms, including eye drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius abandoned the purchase in […]
Fresenius slides on softened outlook
Fresenius (NYSE:FMS) shares are down roughly 10% today after the German dialysis giant softened its outlook. “Given its current expectations for 2018 and 2019, Fresenius now believes its ambitious group targets for 2020 will not be met,” Fresenius said. Overall earnings next year are now expected to be flat on mid-single-digit sales growth, compared with prior […]
Fresenius Kabi recalls sodium chloride injections over latex concern
Fresenius Kabi USA voluntarily recalled 163 lots of sodium chloride injections last week, noting that the product contains latex despite an insert that states otherwise. The company’s recall includes 0.9% injections in 10 mL vials and 20 mL vials. The product insert and the tray label for both kinds of vials say that the products’ stoppers […]
Fresenius posts shrinking sales, profits in Q3
Fresenius (NYSE:FMS) shares have stayed steady today after the company released third quarter earnings that saw profits and sales shrink compared to the previous year. The Bad Homburg, Germany-based company posted profits of $322.6 million (EU €285 million), or $1.05 per share (EU €0.93), on sales of approximately $4.6 billion (EU €4.1 billion) for the three […]
NxStage Medical, Fresenius again delay $2B merger
NxStage Medical (NSDQ:NXTM) yesterday once more delayed its pending $2 billion merger with Fresenius (NYSE:FMS) as the U.S. Federal Trade Commission continues to examine the deal. In July, the German renal care giant and Lawrence, Mass.-based NxStage extended the deal’s closing date by 90 days, from August 7 to Nov. 5, saying it still expected to close the deal this year. […]
Fresenius Medical touts Crit-Line hemodialysis fluid management studies
Fresenius Medical Care‘s (NYSE:FMS) renal therapies group today released results from four studies of its Crit-Line monitor that looked to explore the relation between relative blood volume monitoring (RBV-M) and patient outcomes. Data from the studies were presented at the 2018 American Society of Nephrology’s Kidney Week Symposium in San Diego, Calif. Results from two […]
Fresenius plunges on missed prelims, guidance cut
Fresenius (NYSE:FMS) shares closed down some 17% yesterday after it cut its outlook for the rest of the year on lower-than-expected third-quarter results. The German dialysis giant released preliminary figures for the three months ended Sept. 30, saying it expects to report profits of €285 million on sales of €4.06 billion. Analysts were looking for sales of €4.12 billion. […]
Fresenius cleared to jilt Akorn, court rules
The Delaware Chancery Court ruled this week that it can’t force Fresenius (ETR:FRE) to follow through with its $4.75 billion merger with Akorn (NSDQ:AKRX). The deal was designed to help Fresenius move into new dosage forms and therapeutic areas, including ophthalmic drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius walked away from the deal in April, citing an investigation […]
The 10 largest medical device companies in the world
Medtronic and Johnson & Johnson remain the world’s largest medical device companies. But after that, the roster is radically shifting amid a slew of mergers and acquisitions. In some cases such as GE, Philips and Siemens, major multinationals are breaking apart. We’ve sifted through data from public companies’ annual reports and other publicly disclosed information, […]
Fresenius extends deadline for $2B NxStage buyout, tops Q2 earnings forecast
Fresenius (NYSE:FMS) said today that it’s extending the deadline to close the $2 billion buyout of NxStage Medical (NSDQ:NXTM) by 90 days and posted second-quarter earnings that beat the consensus forecast. The German dialysis giant said it moved the merger deadline from August 7 to Nov. 5, but still expects to close the deal this year. […]
Fresenius put $2m into Vectorious Medical’s $10m Series B
Fresenius (NYSE:FMS) said today that its venture arm put $2 million into a Series B round for Vectorious Medical Technologies that brought in a total of nearly $10 million for the cardiac implant company. Tel Aviv-based Vectorius is developing the V-Lap implantable wireless heart monitor, which is designed to monitor pressure in the heart’s left atrium. The $9.5 […]
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