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. India’s proposed stent pricing cap said to squash new product introductions
India’s move toward capping the price on coronary stents reportedly has medical device makers rethinking their strategies there and even shelving new product rollouts.
“With price controls, margins of all players including manufacturers will be impacted. Global stent makers may scale back introducing their top-of-the-line brands and launch value products instead,” Rana Mehta, healthcare leader at PwC India, told the Economic Times. Read more
4. Profits, sales up during Q2 for GE Healthcare
Profits and sales grew during the 2nd quarter for GE Healthcare, helping the industrial conglomerate beat Wall Street’s earnings forecast.
GE Healthcare’s operating profits rose 11% to $782 million on sales growth of 4% to $4.53 billion “driven by strong volume growth and cost productivity,” General Electric said, noting a margin gain of 110 basis points Read more
3. Plaintiff’s $8m win in DePuy ASR hip trial survives Johnson & Johnson’s appeal
An $8 million plaintiff’s award in a product liability lawsuit brought over the DePuy ASR XL metal-on-metal hip implant made by Johnson & Johnson subsidiary DePuy Orthopaedics survived the company’s appeal to a California state court.
The trial was the 1st of thousands of product liability cases filed over the ASR hip. Plaintiff Loren Kransky claimed that his ASR device failed less than 5 years after he received it. After a 5-week trial, in March 2013 a California jury found that the device was defectively designed and that the companies were negligent, awarding $8.3 million in damages. Read more
2. Stryker’s Q2 numbers top estimates, outlook raised on 2016 sales and earnings
Stryker shares ticked down in pre-market trading today despite a 2nd consecutive “beat & raise” quarter that saw the medical device giant top both sales and earnings forecasts and boost its outlook on the rest of the year.
Kalamazoo, Mich.-based Stryker posted profits of $380 million, or $1 even per share, on sales of $2.84 billion for the 2nd quarter ended June 30. Read more
1. FDA panel votes in favor of Dexcom G5 dosage label expansion
An advisory panel recommended today that the FDA grant Dexcom‘s bid for a non-adjuctive dosing claim for its G5 continuous glucose monitor voted in favor of the indication.
The panel voted 8-2 on the safety question, 9-1 on the effectiveness question and 8-2 that the benefits outweigh the risks, according to a Leerink Partners note to investors. Read more
The post MassDevice.com +5 | The top 5 medtech stories for July 22, 2016 appeared first on MassDevice.
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