Smiths Group (LON:SMIN) said yesterday that it’s spiking merger talks with ICU Medical (NSDQ:ICUI) after rejecting a nearly $4 billion offer earlier this month. The British company and San Clemente, Calif.-based ICU revealed negotiations in May about a possible union with Smiths Medical. Smiths, said to be eyeing the exit door last month, reportedly rejected a cash-and-stock offer […]
Insulet slides on Q2 revenue miss
Insulet (NSDQ:PODD) shares took a hit today after the company reported second-quarter revenues that missed the consensus forecast and cut its outlook for the rest of the year. Billerica, Mass.-based Insulet reported losses of -$1.7 million, or -3¢ per share, on sales of $124.3 million for the three months ended June 30, amounting to a -78.2% […]
NovoCure’s Q2 sales top forecast, earnings miss
NovoCure (NSDQ:NVCR) shares are under pressure this morning after the company reported second-quarter losses that exceeded estimates. The British firm’s losses fell -26.7% to -$15.5 million, or -17¢ per share, on sales growth of 60.3% to $61.5 million for the three months ended June 30. Analysts on Wall Street were looking for losses of -16¢ per […]
AngioDynamics to pay $13m to settle False Claims charges
AngioDynamics (NSDQ:ANGO) agreed to pay a total of nearly $13 million to settle charges that it broke the False Claims Act for a chemotherapy delivery device and a peripheral vein treatment. Latham, N.Y.-based AngioDynamics distributed the LC Bead embolization microspheres made by BTG (LON:BTG) subsidiary Biocompatibles. Although cleared for embolizations, the companies allegedly marketed LC Bead from May […]
Novartis to spin out Alcon ophthalmic subsidiary
Novartis (NYSE:NVS) said today that it’s planning to spin its Alcon ophthalmology subsidiary into a publicly traded company after years of speculation that it wanted to sell the ill-starred division. The Swiss pharma giant said it intends to hold on to Alcon’s $4.6 billion ophthalmic pharmaceuticals business under the Novartis Innovative Medicines umbrella, continuing a […]
Medtronic wins CE Mark for MiniMed 670G hybrid closed-loop insulin system
Medtronic (NYSE:MDT) said today that it won CE Mark approval in the European Union for its MiniMed 670G hybrid closed-loop insulin management system for Type I diabetes patients age 7 and older. Fridley, Minn.-based Medtronic said it has clinical programs under way to back expanded indications for the device, which is designed to continuously monitor regulate […]
Medtronic, Nutrino update iPro2 myLog app for CGM
Medtronic (NYSE:MDT) and Nutrino said today that they’re launching an update for the iPro2 myLog app, the FoodPrint Report, designed to give diabetes patients an understanding of the link between meals and blood glucose fluctuations. Powered by Nutrino’s artificial intelligence platform for assessing personal nutrition, FoodPrint patients photograph each meal or snack during a six-day evaluation […]
Johnson & Johnson OKs $2B LifeScan sale to Platinum Equity
Johnson & Johnson (NYSE:JNJ) said today that it accepted a binding offer of more than $2 billion from private equity shop Platinum Equity for its LifeScan blood glucose monitoring business as it moves toward the exit in the diabetes market. The New Brunswick, N.J.-based healthcare conglomerate early last year announced a strategic review of its LifeScan, […]
Venture fund Foresite Capital raises largest-ever $668m fund
Life sciences venture firm Foresite Capital said today that it raised a record $668 million for its fourth fund, bringing its assets-under-management tally to $2 billion. San Francisco-based Foresite was founded in 2011 by former Theravance co-founder & CEO Dr. Jim Tananbaum. Investors in its fourth fund include “a significant representation of existing investors, including […]
China’s CDH Investments counters Varian with unsolicited $1.4B bid for Sirtex
Sirtex Medical (ASX:SRX) said today that it’s fielding an unsolicited, $1.41 billion counter-offer from China’s CDH Investments that trumps a previous, $1.28 billion bid from Varian Medical (NYSE:VAR) that’s already won approval from U.S. and German regulators. CDH’s A$33.60-per-share offer is a 20% premium on Varian’s initial A$28-per-share offer and prompted Sirtex to seek to scuttle a […]
