Boston Scientific (NYSE:BSX) took a time-out from the tsuris over CEO Ray Elliott’s impending retirement to crow over a $19.5 million jury award in one of its stent wars with Johnson & Johnson’s (NYSE:JNJ) Cordis Corp.*
Johnson and Johnson
FDA probes for data on metal-on-metal hip implants
The FDA asked Johnson & Johnson (NYSE:JNJ) and a score of other medical device makers for data on metal levels in the blood of patients implanted with metal-on-metal hip implants.
Abbott’s FreeStyle glucose meter wins CE Mark
Abbott (NYSE:ABT) won CE Mark approval for its FreeStyle InsuLinx blood glucose monitor, its first to include a mealtime (bolus) insulin calculator.
The Abbott Park, Ill.-based health care leviathan said it plans to have the system on the 55.4-million-patient market in Europe this month, beginning with Belgium, France, Germany, Netherlands, and the United Kingdom.
Here’s a roundup of companies announcing clearances and approvals from the Food & Drug Administration and foreign regulatory agencies:
Smith & Nephew not jealous over Synthes/JNJ union
Officials at Smith & Nephew (NYSE:SNN) weren’t acting brides left at the altar, but they weren’t exactly tossing bouquets to the hot new couple in the orthopedic market during a conference call with investors today.
Johnson & Johnson shareholders sue over $78 million bribery settlements
Johnson & Johnson (NYSE:JNJ) shareholders filed a derivatives lawsuit over $78 million in settlements the company paid to put over Foreign Corrupt Practices Act violation and kickback charges to rest.
Johnson & Johnson CFO: Synthes deal doesn’t mean we’re done
Johnson & Johnson (NYSE:JNJ) may have just dropped a cool $21.3 billion to acquire Synthes (SWX:SYST.VX), but it doesn’t mean the health products giant is done shopping for deals.
“Although we just did a pretty significant deal, it doesn’t preclude us from doing another one,,” CFO Dominic Caruso told an investor’s conference in Boston. “We want to be able to act.”
Does J&J CEO Weldon earn his keep?
MASSDEVICE ON CALL — Does J&J CEO Weldon earn his keep? Johnson & Johnson (NYSE:JNJ) shareholders approved the company’s executive-compensation policy yesterday, but not without objections from some over the company’s numerous recent product recalls, The Wall Street Journal reported.
Zimmer’s hips swing in Q1
Zimmer Holdings Inc. (NYSE:ZMH) flexed its muscles in the hip business, riding strong sales in one of its key markets to a 5 percent jump in overall sales during the first quarter.
The Warsaw, Ind.-based orthopedic maker posted a $209 million profit on $1.11 billion in sales during the three months ended March 31, a 2 percent increase over the $205 million in net income on $1.06 billion in sales posted during the same period last year.
Gift ban: Mass. House votes to repeal law regulating companies’ gifts to doctors
MASSDEVICE ON CALL — Gift ban: Mass. House votes to repeal law regulating company’s gifts to doctors. The Mass. House of Representatives voted to overturn a law that requires that medical device and pharmaceutical companies disclose certain gifts to physicians while banning other gifts altogether.
Commonwealth lawmakers yesterday voted 128-22 in their state budget debate to end the law.
Synthes stays flat, Johnson and Johnson ticks down on $21 billion buyout
Study: Stents added up to $1.6B to U.S. health costs
Drug-eluting stents may have added as much as $1.57 billion to healthcare costs in the U.S. since they hit the market here in 2003, according to researchers from the University of Pennsylvania.
The study, published in the Archives of Internal Medicine, tracked data from more than 2,000 Medicare patients between 2002 and 2006, hoping to gauge the impact of new medical technology on health care costs. The team sought to account both for costs directly related to the stenting procedure and for indirect costs from the treatment.