Medical device maker Covidien (NYSE:COV) announced Wednesday that an abdominal stapler product was being recalled and discontinued after it received a single report of injury. Covidien said that the Duet TRS Universal Straight and Articulating Single-Use Loading Units, a stapler, had injured a patient after abdominal surgery. The product is typically used in “bariatric surgery […]
After hearing of injury reports from patients that included burns, Covidien, (NYSE:COV) is recalling certain electrode kits and grounding pads. The Mansfield, Massachusetts medical device maker said that it is withdrawing the DGPHP RFA High-Power Single Use Grounding Pads and Cool-tip RFA Electrode Kits that Contain DGPHP RFA High-Power Single Use Grounding Pads. The affected lots […]
The U.S. Food and Drug Administration has classified Covidien’s Aug. 4 voluntary recall of certain Shiley adult tracheostomy tubes as a Class I. Class I recalls are the most serious because the products in question have the potential to cause severe injury or death. Covidien recalled some of these tubes because of leakage and/or “disconnection […]
In talking about the medical device industry’s role in the rapidly shifting healthcare industry, the president of Covidien’s Global Vascular Therapies business sounded a lot like Medtronic CEO Omar Ishrak. “We have gotten away by not demonstrating the economic value of products,” said Stacy Enxing Seng, at a Women’s Leadership event Thursday organized in the […]
Medical device companies are slowly but surely recognizing that the emerging markets have specific needs that won’t be satisfied by recycling older models of pricey products meant for the first world. One evidence of that comes from Covidien PLC (NYSE:COV), which announced Thursday that it had opened a $45 million research and development center in the […]
The Food and Drug Administration issued a warning to physicians and patients Monday about the Onyx Liquid Embolic System where the catheter used to deliver the liquid can get stuck inside the patient’s brain. The product – formerly made by Minnesota-based ev3 – is now part of Covidien which acquired the company in for $2.6 billion […]
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Covidien announced Tuesday that it will introduce a new renal denervation treatment at a European conference in mid May, but nowhere in the press release does the Massachusetts device firm name the developer of the technology: Maya Medical, based in Campbell, California. For that you have to read the company’s quarterly report filed with the […]
Former Covidien (NYSE:COV) executive Kenneth McBean has joined Cornerstone Therapeutics (NASDAQ:CRTX) to become president of the respiratory therapeutics company. The hire comes as Cornerstone puts more emphasis on its branded products and transitions away from sales of unbranded drugs. As Covidien’s vice president and general manager of Specialty Pharmaceuticals from March 2009 through last May, […]
Massachusetts Senator and GOP presidential hopeful Scott Brown told Covidien plc (NYSE:COV) employees that the impending medical device tax was “a wet blanket over the industry” when he toured the med-tech giant’s headquarters in Mansfield, Mass., yesterday. An active challenger of the impending medical device tax, Brown’s latest legislation aimed at repealing the bill was […]
Covidien Plc.’s (NYSE:COV) board of directors approved a $2 billion stock repurchase program today. “The board’s approval of this share repurchase program reflects its confidence in the continued growth of Covidien’s business, our sustainable free cash flow and our commitment to enhance shareholder value,” president & CEO José Almeida said in a press release. The […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Covidien Plc. (NYSE:COV) will likely beef up its overseas workforce, CEO Joe Almeida told attendees at a Boston meeting of medical device executives today. “Slightly less than half of our revenues come from outside the U.S., so we need more people in places like the UK and Singapore,” Almeida said. Almeida insisted that the jobs […]
Shares of Covidien plc (NYSE:COV) rose more than 4 percent this morning after the company announced a third-quarter profit bump of 47.0 percent and a top-line boost of 14.1 percent. Wall Street liked the 22 percent sales boost added by the Mansfield, Mass.-based health products maker’s workhorse medical device segment during the three months ended […]
The flurry of moves Covidien plc (NYSE:COV) made in 2010 are starting to pay off for the Mansfield, Mass.-based medical products conglomerate. New business from its $2.6 billion ev3 acquisition helped Covidien double its vascular unit’s sales during the three months ended March 25, posting revenues of $333 million, up 103 percent over the same […]
An FDA panel gave the nod to Covidien plc’s (NYSE:COV) Pipeline embolization device, recommending that it be approved to treat large brain aneurysms. Covidien acquired the technology with its $2.6 billion buyout of ev3 Inc. last year. The Pipeline device is designed to treat large, giant and wide-necked brain aneurysms. It’s a coil of wire […]
Covidien plc (NYSE:COV) announced a succession in its corner office, tapping the leader of its medical device unit to become its new president and CEO in July, replacing the retiring Richard Meelia. The Mansfield, Mass.-based medical products conglomerate said Jose Almeida will become president and CEO of the company after Meelia steps down July 1. Almeida, a 16-year Covidien and Tyco Healthcare veteran, has been president of the company's medical device division, its largest, since 2006. He'll also become a member of Covidien's board in July.
