As noted before, October has not been kind to St. Jude Medical. (NYSE:STJ). And now the Minnesota medical device maker has been hit with five back-to-back downgrades from equity analysts, including one issued by Morgan Stanley Analyst David Lewis on Monday. In his note, Lewis said that while the risks the company with its high […]
The healthcare reform law may be upending the business model of health insurers, but so far HMOS are showing healthy profits. According to a recent report by independent health consultant Allan Baumgarten HMOs in Minnesota had profits of $230.4 million in 2011, made up of $158 million in operating income and $72.4 million in investment revenue. […]
Two of Medtronic’s largest markets that have been struggling for quite some time were the very ones to show some improvement in the company’s first fiscal quarter earnings that it reported Tuesday. Medtronic CEO Omar Ishrak told analysts that both the U.S. implanted cardioverter defibrillator (ICD) market and the domestic Spine business showed signs of “signs […]
Emerging markets are a priority for Medtronic CEO Omar Ishrak who has talked about how he expects the medical device company to garner 20 percent and higher growth in revenue from these markets that include China, India and Latin America. But in the company’s first fiscal quarter ended July 27, Medtronic’s (NYSE:MDT) emerging market revenue […]
If people are looking for confirmation that the global cardiac rhythm management market has declined as much as it could and will fall no further, they have to wait a while. A week ago St. Jude Medical CEO Dan Starks admitted that the company has been routinely too optimistic in predicting the bottom of the […]
St. Jude Medical (NYSE:STJ) CEO Dan Starks told analysts Wednesday that the company estimates it will pay about $60 million as a result of the medical device tax in 2013, and described it as a tax that will have an unintended negative impact on the medical device industry. In a call discussing results of the […]
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.
Stem cell therapeutics developer Athersys’ (NASDAQ:ATHX) phase 2 clinical study investigating the treatment of inflammatory bowel disease with partner Pfizer (NYSE:PFE) is expected to complete patient enrollment by the end of 2012. Top-line results of the inflammatory bowel disease trial are likely to be available in early 2013, Athersys CEO Gil Van Bokkelen said in […]
Medical device company STERIS (NYSE:STE) is viewing its recently started fiscal 2013 as a “turning point” for the company, as it moves beyond a lengthy and costly transition from its flagship sterilization system. Mentor, Ohio-based STERIS experienced several challenges to its bottom line last year, including costs associated with moving customers to its System 1E, […]
Meridian Bioscience‘s (NASDAQ:VIVO) has two molecular diagnostic tests in clinical trials, with another test expected to begin trials later in the year. Currently in trials are tests built on the company’s illumigene molecular diagnostic testing platform for Mycoplasma pneumonia, an infection of the lungs, and group A streptococcus, a type of bacteria often found in […]
Regulatory and compliance issues have diverted resources at home health products supplier Invacare (NYSE:IVC) away from “critical priorities” in the company’s business and have resulted in delays of new product introductions and slowed progress on a key globalization initiative. Those issues stem from negotiations with the U.S. Food and Drug Administration over a possible shutdown […]
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.
Novel obesity treatment company EnteroMedics (NASDAQ:ETRM) that has survived a close brush with disaster recorded revenue for the first time since it was incorporated nearly eight years ago. On Tuesday, the company reported revenue of about $123,000 in the first quarter of the year that were garnered from the sale of its implantable neuromodulation system — Maestro […]
STERIS (NYSE:STE) has received 510(k) clearance from the U.S. Food and Drug Administration for software modifications to its System 1E liquid chemical sterilization system. The modifications are related to system aborts that were caused primarily by water-temperature issues, STERIS spokesman Steve Norton said. The System 1E is a liquid chemical sterilizing system used by hospitals, […]
Late last year, an ablation system from cardiology device maker AtriCure (NASDAQ:ATRC) became the first device to secure U.S. Food and Drug Administration clearance for the surgical treatment of atrial fibrillation. Now, the Cincinnati-area company’s attention will turn to training surgeons to perform atrial fibrillation procedures using its device, the Synergy Ablation System. CEO David […]
The Mayo Clinic announced Thursday that higher volumes of surgery and higher numbers of complex medical cases helped operating income jump 18.4 percent to $610.2 million last year compared with 2010. Revenue also climbed to $8.5 billion in 2011 from $7.9 billion in 2010. In 2011, Mayo Clinic cared for 1.11 million patients across its […]
Sterilization products maker STERIS (NYSE:STE) reported that shipments of its System 1E sterilizer continue to fall below the company’s earlier projections. The Mentor, Ohio-based company now projects that it’ll ship 4,000 System 1E units in its fiscal 2012, which is scheduled to end on March 31, company executives said Tuesday in a conference call to […]
