Add a potential class action shareholder lawsuit to the challenges Medtronic (NYSE: MDT) is facing over its Diabetes business. The law firm of Kessler Topaz Meltzer & Check announced last week that it has sued the medtech giant in U.S. District in Minnesota, claiming securities fraud over how it disclosed insulin pump problems. The initial […]
Shareholder lawsuit over BD’s Alaris pumps recall moves forward
A federal judge in New Jersey is allowing part of a shareholder lawsuit to proceed against BD (NYSE: BDX) and CEO Thomas Polen over how they communicated company performance amid increasingly serious Alaris infusion pump problems. In an Aug. 11 opinion, Judge Stanley R. Chesler dismissed Industriens Pensionsforsikring’s claims against former BD CEO Vincent Forlenza […]
Abbott will spend $450M to up FreeStyle Libre production in Ireland
Abbott (NYSE:ABT) will spend €440 million ($450 million) to expand its operations in Ireland, the country’s government announced today. The investment involves the creation of a new 250,000-square-foot manufacturing facility in Kilkenny and a further investment in the company’s Donegal Diabetes Care site. The investment will add 1,000 new jobs between the sites. The new […]
Tandem Diabetes Care wins FDA clearance for insulin dosing via smartphone app
Tandem Diabetes Care (NASDAQ:TNDM) today announced FDA clearance of bolus insulin dosing on the t:slim X2 insulin pump using the t:connect mobile app. Company officials said the t:connect mobile app is now the first FDA-cleared smartphone app for insulin delivery on both the iOS and Android operating systems. Tandem Diabetes Care plans to roll out […]
TriMas completes purchase of Omega Plastics
TriMas (NASDAQ: TRS) announced today that it has completed its acquisition of medical device components maker Omega Plastics. The financial terms of the deal were not disclosed. Omega (Clinton Township, Michigan) expects to bring in $18 million in revenue in fiscal year 2021. Omega Plastics boasts core injection molding capabilities, an ISO Class 8 clean […]
ICU Medical’s Smiths Medical acquisition remains on track
ICU Medical (NASDAQ:ICUI) is a step closer to acquiring Smiths Medical after clearing a shareholders vote at Smiths’ British parent company, the Smiths Group. Almost all of the nearly 327 million Smiths Group shareholders voting on November 17 approved the $2.35 billion buy. Get the full story on our sister site Medical Tubing + Extrusion.
BD handily beats The Street in Q2 — but notes some delta variant effects
BD (NYSE: BDX) posted second-quarter results today that beat the consensus forecast on Wall Street, increasing its full-year guidance. The medtech giant, however, also acknowledged that it’s seeing the COVID-19 delta variant impact elective procedure volumes in some U.S. states. Get the full story on our sister site MassDevice.
Pharma 50: Here’s how the world’s largest pharma companies are doing
The global pharmaceutical industry held up well during the pandemic, with 10 of the largest businesses only seeing a roughly –3% drop in revenue in 2020. Eight of the 10 even came out ahead. That’s one of the big takeaways from our sister publication Drug Discovery & Development’s inaugural Pharma 50, a compilation of data […]
BD to spin off its diabetes business, Q2 earnings beat The Street
BD (NYSE: BDX) announced today that it will spin off its Diabetes Care business as an independent, publicly traded company during the first half of 2022. The Diabetes Care business saw $1.1 billion in sales during BD’s fiscal year ended Sept. 30, 2020, nearly half outside the U.S. The business manufactures roughly 8 billion injection […]
BrightInsight raises $101M for its pre-built digital health platform
BrightInsight announced today that it’s raised $101 million in a Series C round led by VC firm General Catalyst. The money will go toward more hiring and further accelerating the work BrightInsight is conducting with customers to support their digital health product launches. The San Jose, Calif.–based company offers a turnkey digital health platform for […]