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. Resonetics plans Minnesota laser micro-manufacturing plant
Resonetics said today it is opening a laser micro-manufacturing facility in Plymouth, Minn. Read more
4. Teva plans competitor for Mylan’s EpiPen
Teva Pharmaceutical said last week that it hopes to win U.S. approval for its version of Mylan‘s EpiPen by late 2017 or early 2018.
Mylan’s EpiPen holds an estimated 94% market share in the U.S.; an alternate device from Teva could threaten the product’s dominance. Read more
3. Acelity CFO Casey departs on the eve of $1.75B debt offering, $450m refi
Acelity CFO Tom Casey is stepping down effective Sept. 16 for the chief finance spot at another, unnamed company, as Acelity prepares for a $1.75 billion debt offering and a $675 refinancing, the wound care giant said today.
Casey is slated to be replaced on an interim basis by Acelity veteran Todd Wyatt, vice president of global corporate finance, while the San Antonio-based company looks for a permanent replacement. Acelity said Casey will assist Wyatt in “a seamless transition” over the next 30 days. Read more
2. Sanofi, Google’s Verily launch $500m Onduo diabetes JV
Sanofi and Verily Life Sciences, the healthcare play owned by Google parent Alphabet, are launching a joint venture to tackle diabetes.
The Cambridge, Mass.-based Onduo JV will aim to combine Verily’s expertise in miniaturized electronics, analytics, and consumer software with Sanofi’s diabetes program. Dr. Joshua Riff, formerly senior vice president of prevention & wellbeing at UnitedHealth‘s Optum business, was tapped to be Onduo’s CEO, the company said. Read more
1. Appeals court overturns triple damages in Zimmer Biomet’s $280m patent loss to Stryker
A federal appeals court today overturned the enhanced damages and attorney fees awarded in Stryker‘s $70 million patent infringement win over Zimmer Biomet, but upheld its prior ruling that patents were valid and infringed.
The case was sent back to the U.S. Court of Appeals for the Federal Circuit in June, when the Supreme Court held that the standard for enhanced damages awards in patent infringement cases should be relaxed. The case dates back to December 2010, when Stryker sued orthopedics rival Zimmer, alleging infringement of 3 patents covering wound debridement technology by Zimmer’s Pulsavac Plus device. Read more
The post MassDevice.com +5 | The top 5 medtech stories for September 12, 2016 appeared first on MassDevice.
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