There’s no pleasing some people. Abbott (NYSE:ABT) shares were down on Wall Street today, despite the health care products giant reporting strong second-quarter sales and earnings figures — including a nearly 100 percent top-line surge for its coronary stents business.
Intuitive Surgical Inc. (NSDQ:ISRG) announced another expectation-defying quarter, reporting a 21 percent jump in sales and a 32 percent leap in profits for the second quarter ended June 30.
The Sunnyvale, Calif.-based company posted earnings of $117.4 million on $425.7 million in sales for the quarter, compared to $88.7 million on $350.7 million in sales during the same period last year. That translates into a 33 percent jump for diluted earnings per share, which rose to $2.91 from $2.19 during Q2 2010.
MASSDEVICE ON CALL — Most hospitals touting the superiority of their robotic surgery systems do so without evidence, according to a new study from Johns Hopkins University School of Medicine.
The rapid increase of robots in the operating room has challengers questioning the adoption of the costly technology without evidence that the new systems represent an improvement over existing methods.
Advocates of robotic surgery claim the machines provide a clearer view and enable more precise movements, but health outcomes are comparable to other approaches.
Cardinal Health 200 Inc. won a $1.02 billion contract from Uncle Sam.
The two-year deal announced yesterday calls for the company to provide medical surgical supplies to the Army, Navy, Air Force and Marine Corps.
The McGaw Park, Ill.-based company is a subsidiary of health care and laboratory products and services giant Cardinal Health Inc. (NYSE:CAH).
Intuitive Surgical Inc. (NSDQ:ISRG) reported another stellar year, posting a 64 percent increase in profits on the back of continued strong sales of the company’s da Vinci Surgical Systems.
DNA chip IDs gene mutations in saliva or blood: Amsterdam Molecular Therapeutics is developing one of the first commercial genetic therapies for patients with lipoprotein lipase deficiency (LPLD). The firm submitted the therapy, Glybera, to the European Medicines Agency and expects a decision on its approval in mid-2011. Before therapy, however, the genetic mutation must be diagnosed.
Intuitive Surgical Inc. (NSDQ:ISRG) and Cardica Inc. (NSDQ:CRDC) agreed to integrate Cardica’s micro-cutter technology for Intuitive’s da Vinci robotic surgery system and for Intuitive to pick up a 3 percent stake in Cardica.
Intuitive Surgical Inc. (NSDQ:ISRG) crushed year-ago comparisons and blew through analyst expectations for the quarter, posting a $89 million profit during the three months ended June 30 on $351 million in revenues.
But in the “What have you done for me lately?” category, shares of the Sunnyvale, Calif.-based maker of robotic surgical tools were taking a pounding in after-market trading July 21 — falling nearly 8 percent at one point — after Intuitive executives didn’t raise their revenue forecast as much as Wall Street had hoped.
A federal appeals court cleared Intuitive Surgical Inc. (NSDQ:ISRG) of any liability in a lawsuit alleging that one of its malfunctioning da Vinci surgical robots caused a Pennsylvania man’s erectile dysfunction.
Roland Mracek sued Intuitive after undergoing a prostatectomy at Bryn Mawr hospital in June 2005. During the surgery, the da Vinci robot went on the fritz and displayed error messages; after his surgical team and an Intuitive rep couldn’t make the robot work, surgeons performed a traditional laparoscopic prostatectomy, according to court documents. A week later Mracek suffered an episode of gross hematuria (visible blood in the urine) and later developed severe groin pain and erectile dysfunction.