Medtronic (NYSE:MDT) said today that it agreed to pay $22 million to settle an estimated 950 lawsuits filed over its controversial Infuse bone graft product, admitting to no wrongdoing in what it termed a "compromise" of disputed claims.
Olympus (PINK:OCPNY) said it’s shutting down its U.S. biotech business after failing to "gain the traction necessary to build a broader regenerative medicine portfolio," meaning layoffs for the unit’s 200 workers.
MASSDEVICE ON CALL — Medtronic (NYSE:MDT) is mired in some 700 lawsuits over its Infuse bone growth protein, representing complaints from about 1,000 patients, the company revealed in recent regulatory filings.
A California appeals court this week reanimated a product liability lawsuit filed over Medtronic‘s (NYSE:MDT) controversial InFuse bone-growth protein, reversing a lower court’s decision that federal regulations in this case preempt state rules.
Wright Medical (NSDQ:WMGI) officials said the FDA has agreed to hold a dispute resolution panel for the orthopedic company’s Augment Bone Graft product, which was denied approval by the agency in August.