Ironically, Johnson & Johnson is suing Boston Scientific for preventing it from acquiring ill-fated stent maker Guidant, thereby sparing the plaintiff from the $6 billion-plus in write-offs that Boston Scientific has incurred in the years following its 2006 acquisition.
Treasury Secretary Jacob Lew yesterday unveiled a plethora reforms to make tax inversion more difficult and less attractive, potentially killing a plethora of pending mergers with foreign companies, including Medtronic's $43 billion tie-up with Ireland's Covidien.
Digital health investor Rock Health has added 8 startups to its portfolio, bringing the number of active companies in its network up to 55. And with one of the startups focusing on life science R&D and Abbott among its new corporate partners, the incubator has strengthened its ties to drug development.
Mitsui, a Japanese conglomerate whose investments run from steel to luxury goods, has upped its stake in Indian API maker Arch Pharmalabs, saying it likes the future of drugmaking.
St. Jude Medical ($STJ) signed up its first patient enrollment in a massive, international clinical trial that will test the use of its Ilumien imaging system to guide stent implantation in patients with coronary artery disease.
Now that Abbott Laboratories is getting out of the enteral tube feeding business in the U.S., Covidien sees a blaring opportunity to cash in, and the company has ramped up production of its Kangaroo pumps and sets.
Medical device researchers and companies are advancing what was once science fiction in the device and medical equipment realm ever closer to market reality. Even major companies such as Abbott and Boston Scientific are becoming futuristic. Both this year have achieved major milestones with medical devices as ubiquitous as stents and ICDs, updating both products with innovative, life-saving twists. Check out the slideshow >>
Despite an overall 11% drop in second-quarter earnings, Abbott Laboratories reported growth in its diagnostics business, profiting from an increased focus on the sector over the past year.
Abbott Laboratories has snagged a CE mark for its Architect HbA1c assay, which tests glycated hemoglobin to determine how well patients are responding to diabetes therapy.
The FDA approved Abbott Laboratories' Healon EndoCoat OVD, an ophthalmic viscosurgical device designed for use in cataract extraction and intraocular lens implantation.