Medical device company Lanx Inc. lost a bid to have 1 of at least 2 breach-of-contract lawsuits filed against it by competitor NuVasive (NSDQ:NUVA) thrown out.
Nuvasive
Abbott details $15B AbbVie spinout financing | Wall Street Beat
U.K. settles cancer risk for substandard breast implants | MassDevice.com On Call
MASSDEVICE ON CALL — A U.K. researcher tasked with defining the health risk for the nearly 50,000 women who were given substandard implants concluded that the devices were unlikely to cause long-term health problems.
The implants were pulled from shelves amid quite a kerfuffle last year when investigators discovered that Poly Implant Prosthèse was using industrial grade silicon, rather than medical grade.
Judges skeptical of $60M NeuroVision win over NuVasive | MassDevice.com Legal News
A trio of federal judges this week expressed skepticism over a $60 million trademark infringement win NeuroVision Medical Products logged against NuVasive Inc. (NSDQ:NUVA) in 2010.
NuVasive appealed the decision, arguing in March that the judge who handled the case "fundamentally misunderstood trademark law" and "exhibited hostility toward NuVasive’s counsel in front of the jury."
NBA legend Bill Walton leads med-tech delegation to Capitol Hill
Bill Walton might be the medical device industry’s best customer.
The 59-year-old former NBA player and basketball legend has had 36 orthopedic procedures, starting with his first surgery at 13 years old.
NuVasive delights Wall Street with Q1 numbers
NuVasive Inc. (NSDQ:NUVA) CEO Alex Lukianov is aiming to take the #3 spot in the spinal implant market and has set his sights on the $1 billion sales mark, after NuVasive’s 1st-quarter results showed it taking market share from its larger rivals.
That seems to be music to Wall Street’s ears, as investors bid shares up more than 23% yesterday and analysts issued a slew of upgrades for the San Diego-based company.
MassDevice.com +3 | The top 3 med-tech stories for March 21, 2012.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
NuVasive: California judge mishandled NeuroVision trademark suit
NuVasive Inc. (NSDQ:NUVA) is looking to turn around a $60 million trademark infringement loss against NeuroVision Medical Products on the grounds that the judge who handled the case "fundamentally misunderstood trademark law" and "exhibited hostility toward NuVasive’s counsel in front of the jury."
VCs press Senate on “IPO On Ramp” bill | Wall Street Beat
The National Venture Capital Assn. is spearheading a drive to get a bill through the U.S. Senate that would make it easier for small companies to raise money by going public.
The "IPO On Ramp" measure would ease the regulatory requirements for IPOs and temporarily reduce the reporting burdens imposed by the Sarbanes-Oxley Act.
Ex-Spectranetics CEO convicted of lying to the feds | Legal Roundup
Former Spectranetics (NSDQ:SPNC) CEO John Schulte faces up to 5 years in prison and up to $250,000 in fines after a federal jury in Colorado convicted him on a single count of lying to federal investigators about his role in charges that the company illegally imported laser medical devices for a clinical trial.
The jury acquitted Schulte of 11 other charges including conspiracy to defraud the federal government.
Families sue Synthes over patients’ deaths | Legal Roundup
The families of 2 patients who died on the operating table during spine surgery involving the use of Synthes’ Norian XR bone cement are suing the company and 4 former executives for wrongful death and elder abuse, according to the Philadelphia Inquirer.
The lawsuit, filed in California Superior Court, was brought by the families of Ryoichi Kikuchi and Barbara Marcelino, both 83. They died after surgeons injected the bone cement during their procedures, but there is no definitive link between their deaths and use of the cement as a cause of death, according to the newspaper.