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 […]
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Common Sensing, Haselmeier ink deal to develop connected injection pen
Swiss-based manufacturer Haselmeier inked a deal with Common Sensing to develop a smart, connected drug-delivery device for people who use injectable medications. The companies plan to combine Haselmeier’s subcutaneous injection technology with Common Sensing’s Gocap injector monitor. The product, which will be sold by Haselmeier, will record the time and dose of every injection and […]
FDA chief suggests kickback law could be used to rein in drug prices
Drug rebates paid between pharmaceutical companies and pharmacy benefit managers enjoy safe harbor status under federal kickback law, leaving them immune from legal scrutiny. But that could change, FDA chief Dr. Scott Gottlieb suggested yesterday at the FDA Law Institute’s annual meeting. The commissioner reportedly hinted that reinterpreting the law could help lower drug prices. […]
Insulet sales grow 22% in Q1
Insulet (NSDQ:PODD) topped estimates on Wall Street yesterday with its first-quarter results, topping analysts’ sales expectations by $1.9 million. The Billerica, Mass.-based company reeled in its losses, posting a net loss of -$6.6 million, or -11¢ per share, on sales of $123.6 million for the 3 months ended March 31, for bottom-line growth of 34.2% on […]
For this Abbott executive, solving problems isn’t enough: ‘We need to add value’
As payers and providers across healthcare shift their focus to value-based care, leaders in the medical device industry are racing to keep up. Michael Pederson, SVP of cardiac arrhythmias and heart failure at Abbott, told MassDevice.com why simply solving problems with new technology isn’t enough anymore. What was your path like from electrical engineering to […]
Fresenius fires back at Akorn with counterclaims following failed merger
Fresenius (ETR:FRE) filed counterclaims against generic drugmaker Akorn Inc. (NSDQ:AKRX) this week in Delaware Chancery Court, alleging that Akorn tried to defraud the FDA with falsified testing data. Akorn filed suit against Fresenius one day after the company walked away from a $4.75 billion deal to acquire Akorn. Fresenius cited an investigation that found material breaches of […]
BD beats The Street with Q2 results
Shares in Becton Dickinson (NYSE: BDX) held steady today after the company beat expectations on Wall Street with its second-quarter results. The Franklin Lakes, N.J.-based company swung to a net loss of -$50 million, or -19¢ per share, on sales of $4.22 billion for the 3 months ended March 31, up 42% compared with the same period […]
Anika swings to a loss in Q1
Shares in Anika Therapeutics (NSDQ:ANIK) fell in premarket activity today after the company missed expectations on Wall Street with its first-quarter results. The Bedford, Mass.-based company swung to a net loss of -$6.7 million, or -46¢ per share, on sales of $21.3 million for the 3 months ended March 31, down -9.1% compared with the same […]
Dexcom sales climb 30% in Q1, beating estimates on The Street
Dexcom (NSDQ:DXCM) beat expectations on Wall Street yesterday with its first-quarter results, topping analysts’ sales estimates by $12.3 million. The San Diego, Calif.-based company posted a net loss of -$24.2 million, or -28¢, on sales of $184.4 million for the three months ended March 31, for bottom-line growth of 42% on sales growth of 30% compared […]
Insulet inks partnerships to expand into Europe
Insulet (NSDQ:PODD) said today that it inked deals with two partners, Theras Group and Nordic Infucare, to distribute its tubeless insulin pump, Omnipod, in Italy and the Nordic markets starting July 1. According to the agreements, both distributors will provide sales, marketing and customer support for Omnipod users and providers in Italy and the Nordic markets. […]