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Medtronic group purchasing plan, an un-innovative FDA (Best of MedCitizens)

Every week, MedCity News highlights the best of its MedCitizens: syndication partners and MedCity News readers who discuss life science current events on MedCityNews.com. Now here’s the best of what YOU had to say.

Every week, MedCity News highlights the best of its MedCitizens: syndication partners and MedCity News readers who discuss life science current events on MedCityNews.com.

Now here’s the best of what YOU had to say:

Medtronic not canceling all group purchasing contracts. “Medtronic Inc. (NYSE:MDT) is not changing its stance on group purchasing organizations, despite recently canceling several contracts with Premier and Novation, two of the industry’s largest GPOs. ‘There’s a lot of speculation around here that a strategic change is going on,’ Medtronic CFO Gary Ellis told analysts at the Barclay’s Capital Investors Conference in Miami. ‘That is not the case.’ ”

Why FDA innovation is a pathway to nowhere. Why FDA innovation is a pathway to nowhere. “With the U.S. economy slow to emerge out of the financial crisis, the FDA has been bashed for bringing down one of the few areas of commerce that the U.S. still globally dominates, medical devices. So, the FDA is responding. Unfortunately, since Dr. Shuren does not have a quick fix for the FDA’s real deficiencies that affect the vast majority of devices, he’s giving America what it loves to hear’ a success story.”

Japan earthquake impacts medical device makers’ stocks. “In Japan, they’re dealing with a death toll sure to rise above 10,000, rolling blackouts and a nuclear disaster of as-yet-undetermined proportions. On Wall Street, investors in medical device makers are contending with issues of their own, as share prices slide and the long-term impact of the Japan earthquake remains unknown.”

Obamacare health plan: should states refuse federal grants? “So there you have it. The libertarian Cato Institute is calling for a federal takeover of health care. Who’d a thunk it.”

Hospital CEO salaries remain high despite budget cuts. “I know, it’s so cliched to begrudge someone what the market will bear to pay them. I’m sure there are manifold reasons for a hospital CEO to pull down 7 figures, even at “non-profit” hospitals. But when you have states chopping Medicaid left and right, when Congress faces an imminent debate on the inevitability of entitlement cuts (i.e. Medicare) in order to achieve some semblance of fiscal sanity, is it altogether justifiable for appointed leaders of non-profits to be so generously compensated?”

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Chris Seper runs MedCityNews.com and contributes regularly to the site. He is the vice president of healthcare for Breaking Media, MedCity's corporate owners. Reach him at [email protected].

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