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. Abbott wins $11m DoD contract for brain injury diagnostic dev
Abbott won an $11.3 million contract with the US Department of Defense for the development of traumatic brain injury assays, according to a DoD released last Friday.
The contract is with the US Army Medical Research Acquisition Activity in Frederick, Md., with an initial $2.5 million obligated at the time it was issued. Read more
4. Cardinal Health’s fiscal Q3 earnings top forecast, but sales miss the mark
Fiscal 3rd-quarter earnings for Cardinal Health came in ahead of the consensus estimate on Wall Street, but the top line missed expectations by nearly $500 million.
The Dublin, Ohio-based company posted profits of $381 million, or $1.20 per share, on sales of $31.82 billion for the 3 months ended March 31, for a bottom-line slide of-1.3% on sales growth of 3.8% compared with Q3 2016. Read more
3. Medtronic wins FDA nod for Resolute Onyx drug-eluting stent
Medtronic said today that the FDA approved its Resolute Onyx drug-eluting stent.
The Fridley, Minn.-based company touted its device as the 1st stent formed by a sinusoidal wave of cobalt alloy wire. The company incorporated a radiopaque inner core within the wire to boost visibility, according to Medtronic. The stent also features thin struts and a polymer blend that minimizes inflammation and risk of stent thrombosis. Read more
2. Alere’s Medicare ban upheld by judge for Arriva diabetes unit
Alere said today that federal judge upheld a ban imposed on its Arriva Medical diabetes division by the Centers for Medicare & Medicaid Services, vowing to appeal the decision barring the unit from government insurance reimbursement.
Arriva, which makes durable medical equipment for diabetic testing, was informed last October that its Medicare enrollment would be revoked by CMS, which accused the company of submitting claims for 211 deceased patients. Alere’s initial appeal was denied and CMS revoked Arriva’s enrollment 2 days later. Read more
1. Johnson & Johnson loses $20m verdict in 3rd pelvic mesh bellwether
A Pennsylvania state court jury dealt a $20 million blow to Johnson & Johnson subsidiary Ethicon last week in the 3rd pelvic mesh bellwether to go to trial in Philadelphia.
The verdict, including a $17.5 million punitive damages award, was handed up April 28 in the Philadelphia Court of Common Pleas. Plaintiff Peggy Engleman alleged that the TVT-Secur mesh she was implanted with to treat her stress urinary incontinence caused her injuries as it eroded inside her body after just 2 months. Engleman, who according to court documents eventually underwent 3 surgeries to remove the TVT-Secur mesh, alleged that the product was defective and accused Johnson & Johnson of putting it on the market despite knowing of its risks. Read more
The post MassDevice.com +5 | The top 5 medtech stories for May 1, 2017 appeared first on MassDevice.
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