St. Jude Medical Inc. (NYSE: STJ) filed a pair of lawsuits accusing two of its rivals of patent infringement and stealing trade secrets.
Volcano Corp. (NSDQ:VOLC) posted $71 million in sales during the fourth quarter, a 45 percent increase from the $49 million it posted during the same period last year.
However, the San Diego-based maker of intravascular therapy devices slipped into the red during the three months ended Dec. 31, 2009, posting a net loss of $12 million, compared to a $1.3 million profit for the same period in 2008.
Officials blamed the quarterly loss on $14 million worth of “in-process” R&D charges it assumed when the company acquired CardioSpectra Inc. and Novelis Inc., according to its earnings release.
By Thomas Lee
PLYMOUTH, Minnesota – Lumen Biomedical Inc. sold one of its two clot-removing devices to boost its balance sheet as it struggles to stay afloat in a tough economy.
Volcano Corp. (NSDQ:VOLC), a San Diego-based medical device manufacturer, purchased Lumen’s Xtract thrombus aspiration catheter for an undisclosed amount. Volcano had been Xtract’s exclusive global distributor since May 2009.