Companies in the medical device arena see three ways to deal with a looming tax on medical devices, slated to start in 2013: Lay off workers, raise prices and lower costs.
Industry Council
Patrick huddles with device makers over excise tax
One plank of Gov. Deval Patrick’s 2006 campaign was his support of the life science industry in Massachusetts. It seems that in his bid for re-election in the looming 2010 race he’s looking to cast himself as the life science governor once again.
Survey: Medical device makers cautiously optimistic
A survey of 47 medical device manufacturers, ranging from pre-revenue firms to those with sales topping $100 million, indicates a sense of cautious optimism when it comes to the economy.
The survey, conducted by executive services provider Tatum LLC for the Massachusetts Medical Device Industry Council (MassMEDIC), polled device makers during the fourth quarter on a variety of business indicators. Most — more than 58 percent — said they expected conditions to improve during the last 60 days of the quarter. Nearly 35 percent reported improvement during the 30 days preceding the survey.
James Mazzo named chairman of AdvaMed board
James Mazzo, an executive at Abbott Medical Optics Inc., a division of health care giant Abbott (NYSE:ABT), was named chairman of the board of the Advanced Medical Technology Assn.
Mazzo will succeed Michael Mussallem, the CEO of Edwards Lifesciences Corp. (NYSE:EW), who has held the post at the national trade council for the medical device industry since 2008. Mazzo previously chaired AdvaMed’s International Board Committee.
Along with Mazzo the trade council has also named its new committee and board members for 2010-2011. They are:
- Michael A. Mussallem, Chairman and Chief Executive Officer, Edwards Lifesciences
- Alex Gorsky, Worldwide Chairman MD&D EC, Johnson & Johnson
- David Dvorak, President and Chief Executive Officer, Zimmer
Mass. Life Sciences Center pushes forward despite budget setbacks
The Mass. Life Sciences Center got another haircut in Gov. Deval Patrick’s proposed 2011 fiscal budget, but neither the center nor the governor himself appears ready to concede ground on the initiative once known as the $1 billion life sciences bill.
At a breakfast meeting of the Mass. Biotechnology Council today, Patrick vigorously denied that his proposed cuts to the life sciences center reflected anything other than fiscal necessity. His proposed budget calls for a temporary cut of $5 million to the center’s tax credit initiatives, bringing the total to $20 million for 2011, and another cut to the center’s investment fund.
Mass. Life Sciences Center launches $3 million matching grant program
The Mass. Life Sciences Center will begin accepting applications for a $3 million matching grant program aimed at helping small life science companies that are production-ready and “poised for rapid growth that will create jobs in the Commonwealth.”
The quasi-public agency said it will provide matching grants of up to $500,000 to companies that have received Phase II or post-Phase II small business innovation research (SBIR) or small business technology transfer (STTR) grants from federal agencies such as the National Institutes of Health, the National Science Foundation or the Dept. of Defense.
The center will open the application process on its website starting Feb. 1.
MassMEDIC to Sen.-elect Brown: Put your money where your mouth was
The Mass. Medical Device Industry Council is asking Sen.-elect Scott Brown to put his money where his mouth was during the campaign for the late Sen. Ted Kennedy’s seat on Capital Hill.
During his successful run against Mass. Attorney General Martha Coakley, Brown visited Zoll Medical Corp.’s Chelmsford, Mass., headquarters, where he spoke about his opposition to a proposed tax on medical device makers to help pay for healthcare reform.
During the campaign stop at Zoll, the Republican then-candidate told MassDevice that he planned to vote against the healthcare reform bill if elected.
Mass. Life Science Center launches second internship initiative
The Mass. Life Sciences Center is putting on another push to help place summer interns at life science companies in the Commonwealth, even offering salary reimbursement as sweeteners to companies with fewer than 100 employees.
The quasi-public agency said it placed slightly more than 100 interns last year at 59 life science companies across the Bay State. The goal for 2010 is to increase the number of placements to 150.
Minnesota group aims to bolster support for FDA’s 510(k) program
By Thomas Lee
MINNEAPOLIS, Minnesota — For months, the medical device community has been fretting over what they see as the Food & Drug Administration’s increasingly heavy-handed way of approving new technologies.
GHTF seeks public comment on global medical device registry
The Global Harmonization Task Force is soliciting public comment on a proposed worldwide tracking system for medical devices it says will increase patient safety, improve corrective actions and better fight against counterfeiting.
The 17-year-old task force, which is made up of “a voluntary group of representatives from medical device regulatory agencies and the regulated industry,” will be soliciting public comment until March 31. The 13-page paper, released last month, was disseminated by the Food & Drug Administration Jan. 6. “Unique Device Identification (UDI) System” can be downloaded online.
MassMEDIC, UK medical device trade group ink promotional deal
MassMEDIC is making inroads across the pond.
The Massachusetts Medical Device Industry Council and one of its British counterparts, the Golden Triangle Partnership, inked a cross-promotion deal aimed at boosting the medical device industry’s profile in their respective clusters.
The deal is designed to “facilitate transatlantic investment and partnering by encouraging collaborations between each groups’ member companies,” according to a press release. “GTP and MassMEDIC will promote each other’s investment and partnering events to their respective members, as well as offer their members significantly reduced rates to each other’s signature events.”