From disappointing Getinge earnings to a $2.25 billion U.S. Defense Department contract for Cardinal Health to a host of 510(k) clearances, here are seven recent medtech stories that are still worth a mention.
1. Getinge disappoints on earnings—again
Getinge stock took a nearly 10% tumble last week after releasing earnings that Reuters says lagged analyst expectations for the 7th straight quarter. Fourth-quarter sales were up slightly year-over-year, to 9.5 billion Swedish krona (about $1.08 billion), but profits were down nearly 5% to 952 million krona (about $108 million). The Swedish medical device company is still awaiting an FDA action plan for its Hechingen, Germany plant.
2. Cardinal Health wins $2.25B DoD contract
Cardinal Health has won a nearly $2.25 billion contract to provide brand name and generic medical surgical supplies to the U.S. military. Owens and Minor Distribution is receiving an additional $1.125 billion as part of the U.S. Defense Department contract. The Defense Department says its Medical Surgical Prime Vendor Generation V program received six offers for the contracts, which have a 30-month base with an up-to 5-month implementation period. Surgical supplies will go to the Army, Navy, Air Force, Marines, Coast Guard and federal civilian agencies.
3. Zimmer Biomet wins expanded FDA approval for Gel-One
FDA has approved an expanded 26-week efficacy claim for Zimmer Biomet’s Gel-One cross-linked hyaluronate, a single-injection viscosupplement to treat osteoarthritis-related knee pain. “The expanded efficacy claim not only strengthens our competitive positioning, but reinforces our commitment to alleviating pain and restoring mobility for patients at every stage in the continuum of musculoskeletal care, including conservative and non-surgical options,” David Nolan, a Zimmer Biomet group president, said in a Feb. 1 news release.
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