One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
FDA clears Varian’s AI-driven radiation therapy
Varian Medical Systems (NYSE:VAR) announced today that it won FDA 510(k) clearance for its Ethos AI-driven adaptive intelligence solution for cancer care. Ethos is designed to offer an adaptive treatment based on the patient’s anatomy and position to better target the tumor, reduce the dose to healthy tissue and improve overall outcomes within a 15-minute time […]
Varian Medical shares down on Q1 bottom-line slide
Varian Medical (NYSE:VAR) shares dropped today on first-quarter results that came up short of the consensus forecast. The Palo Alto, Calif.–based radiotherapy device maker posted profits of $88.9 million, or 96¢ per share, on sales of $829.9 million for the three months ended Dec. 31, 2019, for a 14.4% bottom-line slide on sales growth of 11.9%. […]
Varian appoints VP of clinical affairs
Varian Medical Systems (NYSE:VAR) yesterday said it appointed Dr. Ricky Sharma as VP of clinical affairs. Sharma will be responsible for leading medical research, translational science and clinical trials for the company’s oncology business. He will report to chief medical officer and senior VP of medical affairs Dee Khuntia. “Dr. Sharma is an international authority on […]
Proton therapy lowers risk of side effects for cancer patients, study says
Findings from a new study claim that proton therapy leads to a significantly lower risk of side effects severe enough to lead to unplanned hospitalizations for cancer patients when compared to traditional radiation. Although cure rates between the proton therapy and radiation groups remain almost identical, the study conducted at the Perelman School of Medicine […]
Varian Medical spending extra on Endocare and Alicon purchase
Radiation oncology treatments and software maker Varian Medical Systems (NYSE:VAR) announced today that it updated its previously reported GAAP preliminary financial results for the fourth quarter and fiscal 2019. Earlier this week, the company uncovered new information and determined that the financial performance of its recently acquired Endocare and Alicon business was better than previously understood […]
Varian gets a jolt from meet-and-beat fiscal numbers, 202 forecast
Varian Medical (NYSE:VAR) got a jolt today from its fiscal fourth-quarter and full-year results, which met the consensus earnings forecast and topped Wall Street’s expectations for sales, and added a pair of names to its senior leadership roster. Palo Alto, Calif.-based radiotherapy device maker posted profits of $89.3 million, or 97¢ per share, on sales of […]
U.S. exempts more Chinese medtech products from tariffs
The U.S. has exempted another 18 medical devices or device components from the 25% tariffs imposed on Chinese goods by the Trump administration. The new list includes ultrasound, X-ray, MRI and infusion equipment. The Office of the U.S. Trade Representative (USTR) said the new exclusions are retroactive to August 23, 2018, when additional tariffs went […]
Varian wins tariff exclusion for radiotherapy components
Varian Medical (NYSE:VAR) today said the U.S. Trade Representative granted exclusion of its radiotherapy system components from China in the latest tariffs. Palo Alto, Calif.-based Varian said components sourced from China for its linear accelerators manufactured in the U.S. were granted exemption from Section 301 of the tariffs. The exemption took place on Sept. 20. “We […]
Varian backs Oncora, launches Ethos radiotherapy device
Varian Medical (NYSE:VAR) said last week that it invested an unspecified amount in Oncora Medical and launched its Ethos artificial intelligence radiotherapy device. Philadelphia-based Oncora makes software used to plan radiotherapy procedures. Palo Alto, Calif.-based Varian said the partnership with Oncora is aimed at accelerating its software development for radiation oncology. “We envision a world where all […]
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