Biotech titan Roche acquired Boston, Mass.-based medical device company Constitutional Medical Investors for a reported $220 million plus possible milestones.
MASSDEVICE ON CALL — The FDA this week officially approved Swiss healthcare giant Roche‘s COBAS INTEGRA 800 Tina-quant HbA1cDx assay as a test for diabetes.
The test has been in use as a diagnostic tool off-label, but has been officially marketed only as a means of monitoring blood glucose control.
The meter and pump can seamlessly transmit data back and forth via Bluetooth, allowing for remote insulin delivery and providing guidance on dosage levels.
MASSDEVICE ON CALL — Med-tech industry lobby AdvaMed had some words of inspiration for lawmakers looking to mark up the latest iteration of the Medical Device User Fee Act this week.
"Mark up is an important milestone in the reauthorization process, and we are encouraged by the bipartisan support this legislation has received," AdvaMed chairman & CEO Stephen Ubl said in a prepared statement. "We are hopeful it will remain on track to pass in a timely fashion."
Illumina adopted a rights agreement which allows shareholders other than the a bidder to buy additional shares at a discounted price, potentially deterring would-be bidders by increasing costs.
A group of California cardiologists filed a lawsuit against Santa Clara Valley Medical Center, alleging that they were harassed out of their jobs after they complained about a pattern of compromised patient safety at the hospital.
The plaintiffs are led by echocardiographer Dr. Geeta Singh and cardiothoracic surgeon Dr. Kai Ihnken, with 2 additional cardiologists named alongside them in the lawsuit.
MASSDEVICE ON CALL — BioMimetic Therapeutics (NSDQ:BMTI) cut 25% of its workers in hopes of saving some cash in focusing on getting FDA pre-market approval for its Augment bone graft.
The federal watchdog agency’s advisory panel recommended approving the treatment in May 2011, after releasing a dim summary of the pre-market approval application that sunk BMTI shares by more than 35%.
Abbott’s (NYSE:ABT) plan to spinout its pharmaceuticals division met with a lukewarm response from investors and mixed views on whether other pharma firms will bid for the new firm.
The health care giant dropped the bombshell news along with its third-quarter results earlier this week, saying it planned to keep its medical products business under the Abbott banner and create a new, as-yet-unnamed public company from the pharma unit.