Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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5. 3D model of female reproductive system could help test drugs for efficacy, safety
In January last year, the National Institutes of Health issued a new requirement for grant funding in basic science: Researchers must discuss how gender as a biological variable will impact their research.
Teresa Woodruff, director of the Women’s Health Research Institute at Northwestern University, told Drug Delivery Business News that this helped support their effort to develop a model that could eventually serve as a way for pharmaceutical companies to consider female biology when developing drugs. Read more
4. Pyng Medical shareholders OK $9m Teleflex takeover
Pyng Medical said yesterday that its shareholders approved an $8.6 million takeover offer from Teleflex, setting the stage for the deal to close April 3.
First announced in early February, the deal calls for a Canadian Teleflex subsidiary to pay 30.2¢ apiece for the roughly 28.5 million shares in Pyng, which makes intraosseous infusion technology, pelvic stabilization & emergency tourniquet devices. Read more
3. Cardiologists: $6B NIH cut a ‘catastrophe’
Top heart doctors and researchers reportedly described President Donald Trump’s proposed 20% cut to the National Institutes of Health budget as “chilling” and a “catastrophe” at the American College of Cardiology meeting this month.
Many expressed fears that as drug companies shift their focus to oncology and rare diseases, NIH-funded research will become more important to cardiology and the proposed $5.8 billion cut could leave life-saving research in a lurch. Read more
2. Judge moves Stryker-DJO Global poaching case to Indiana
A federal judge in New Jersey yesterday transferred a sales rep poaching case between DJO Global and Stryker to Indiana because the quintet of ex-Stryker sales reps involved live there and most of the events in th case occurred in the Hoosier State.
The lawsuit, originally filed in April 2016 in the U.S. District Court for New Jersey, alleged a scheme by DJO and the former Stryker sales reps – Kywin Supernaw, Brad Bolinger, Justin Davis, Jake Eisterhold, Eric Huebner and Tim Broecker – that took a roughly 33% bite out of Stryker’s ortho & trauma sales in Indiana in 2015. Read more
1. Trumpcare’s demise augurs ill for medical device tax repeal
The immolation of the Trumpcare bill last week doesn’t bode well for the medical device industry’s hopes for repeal the medtech tax that’s slated to go back into effect next year.
The 2.3% excise tax on U.S. medical device sales was enacted along with the Affordable Care Act in 2010 and went into effect in 2013. A 2-year moratorium put in place in 2015 is slated to expire at the end of this year; proponents of repealing the tax were hopeful that the repeal-and-replace legislation that failed last week would put a permanent nail in the levy’s coffin. Read more
The post MassDevice.com +5 | The top 5 medtech stories for March 28, 2017 appeared first on MassDevice.
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