A Delaware jury ruled that Globus Medical violated three patents owned by Johnson & Johnson, ordering the company to fork over $16 million in damages.
Put lightly, it was less than a banner year for medical device and diagnostics companies looking to go public. Check out the report >>
Globus Medical got FDA approval for Secure-C, the company's spinal disc replacement device, saying the tech is demonstrably more succesful than current surgeries for disc abnormalities.
Medical device-designer Globus Medical ($GMED) drew in about $100 million after its initial stock price of $12 per share rose 9.2% in the wake of its IPO debut late last week, The Wall Street Journal reports.
Globus Medical planned to raise about $200 million from its IPO, but now cut its offering down to 8.3 million shares at $12 apiece, the low end of its expected price range.
Globus Medical made a splash Thursday by filing with the SEC to raise up to $100 million in an initial public offering.
Showing it can flex its regulatory muscle, the FDA has reached a $1 million settlement with spinal implant maker Globus Medical over allegations that the company distributed unapproved medical...