Medical device makers, health information technology providers and AdvaMed together spent more than $20 million lobbying Congress, the White House and the Food & Drug Administration during the fourth quarter.
Fourth-quarter and full-year sales for Abbott's vascular medical device segment rose 9 percent and 20 percent, respectively.
A federal judge in Delaware declared invalid a quartet of Johnson & Johnson's Cordis Corp. subsidiary's patents for drug-eluting stents, canceling a trial set for next month in a patent infringement lawsuit filed by Boston Scientific.
Cordis Corp. will defend the Cypher drug-eluting stent on its home turf in New Jersey in a patent infringement case against Boston Scientific Corp. and Abbott Laboratories.
Some of the biggest names in medical devices are embroiled in a whistleblower lawsuit accusing them of deliberately promoting the off-label use of biliary stents to treat cardiovascular conditions in hundreds of thousands of patients.
The Japanese Ministry of Health, Labor and Welfare gave the green light for Abbott to bring its Xience V drug-eluting stent to market in the Land of the Rising Sun.
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Abbott Labs' play for a Belgian pharmaceutical company pays an immediate but potentially short-lived dividend, although the bigger payoff could be down the road with the development of influenza vaccines, Parkinson drugs and a broad global footprint.
The company moved into the optical device market in February when it closed on a $2.8 billion deal to acquire Advanced Medical Optics, which made devices for cataract and LASIK surgery, as well as contact lens and eye solutions. Visiogen, meanwhile, has developed an intraocular lens that's implanted in a patient's eye after the original is removed due to cataracts.
The big figure in these settlements is actually well beyond of $700 million, which is how much Medtronic has paid in legal disputes with Abbott, Johnson & Johnson and other companies contesting intellectual property rights. As part of Monday's settlement,Medtronic also paid $42 million to evYsio Medical Devices.
The state had accused the four companies of fraud, unjust enrichment and violating the Consumer Sales Practices and Deceptive Trade Practices Acts for reporting false and misleading information about their wholesale drug prices.
By reducing administrative burden and redesigning workflows around human needs, it creates space for what matters most: connection between clinicians and patients.