Johnson & Johnson has confirmed an agreement to fork over at least $2.5 billion to settle thousands of lawsuits alleging injuries caused by defective all-metal hip implants. A large majority of eligible plaintiffs reportedly must support the agreement for it to go forward, and legions of legal cases not included in the deal will remain in play.
Boston Scientific's Vercise deep brain stimulation system isn't yet approved in the U.S., but it continues to rack up regulatory blessings overseas. In the latest advance, the product now has a CE mark to treat a neurological movement disorder known as dystonia.
A massive, 10-year study concluded that stents aren't any better than drugs in treating clogged renal arteries--unwelcome news for stentmakers, as the findings could encourage doctors to rely more on drug treatments first.
Congress is facing pressure from a number of patient groups to prevent proposed cuts in Medicare coverage for medical imaging.
Medtronic's struggling spinal division is the sole black mark on an otherwise stellar fiscal 2014 second quarter. But every other division reported gains.
Cardiovascular Systems hopes to raise at least $60 million in a public offering to boost the commercial rollout of its coronary artery device-treatment systems. The cash infusion may also advance international expansion and new clinical trials, according to the Minnesota device company's recent regulatory filing.
A massive study involving next-generation Medtronic devices shows their evolving capacity to do more than just regulate heartbeats; they may also help slow the advance of permanent atrial fibrillation and reduce hospitalization rates, researchers believe.
Solta Medical's master plan to reorganize and revamp continues with the finalization of $40 million in new structured debt financing. The California maker of liposuction, skin resurfacing and other aesthetic medical devices said it plans to use the money to advance its ongoing recovery strategy.
With the success of Erbitux and its patient-steering companion diagnostic fresh in mind, Qiagen and Eli Lilly have struck up their third partnership, reuniting to match genomic knowhow with drug development expertise.
Varian Medical Systems will buy back an additional 6 million shares of common stock through 2014. The company has already been in the midst of an 8-million-share repurchase program that's nearly complete.
California's TriVascular has bagged another $40 million in equity to expand the use of its FDA-approved devices for endovascular aortic repair, used to treat dangerous bulges in blood vessels.
CareFusion is handing over $500 million for GE Healthcare's Vital Signs arm, an acquisition it said will make it a giant in the respiratory and anesthesia consumables business but also fuel a broader global expansion.
Medtronic began a month ago to recall a number of potentially faulty guidewires used for various cardiac procedures, and now the FDA has slapped the effort with its most-serious "Class I" label. At least one patient has been injured, the company said.
Carmat is inching closer to bringing its artificial heart to market, and the French device company is also looking to break into the U.S. through a partnership with one of its major med tech competitors.
Kimberly-Clark is actively exploring a spin-off of its healthcare business, a generator of $1.6 billion in annual net sales and maker of medical devices including catheters, pain pumps and enteral feeding tubes.
Genomic sequencing specialist GenapSys picked up $37 million in Series B financing to help develop and commercialize its diagnostic system for genetic diseases, cancer and microbes.
CardioDx was among the cluster of diagnostics and med tech companies that joined a march to the public markets earlier this fall. But executives have now decided to delay the company's IPO, according to various media reports, citing poor market conditions.
A German appeals court lifted an injunction preventing the sale of Medtronic's transcatheter aortic heart valve in the country, a major defeat for archrival Edwards Lifesciences and the latest development in a nasty patent fight that long ago went international.
California's NeuroPace gained the FDA's long-awaited signoff for its antiepilepsy neurostimulation implant, capping years of development and testing.
Johnson & Johnson will lay off a number of employees as part of a plan to revamp its diabetes arm, driven by ongoing challenges facing the broader industry sector.