While Johnson & Johnson touts another strong quarter of device and diagnostics sales, subtracting the effects of its blockbuster deal for Synthes, the company charted almost no med tech improvement over the past year.
A Delaware jury ruled that Globus Medical violated three patents owned by Johnson & Johnson, ordering the company to fork over $16 million in damages.
A year after Johnson & Johnson snatched up Swiss orthopedic devicemaker Synthes for an astounding $21.3 billion, the merging of operations is incredibly slow-going and has cost the combined company some business and research talent, the Swiss publication Finanz und Wirtschaft (Finance and Economics) reports.
A big development in the diagnostics industry emerged in Johnson & Johnson's heavy stream of earnings news today. The healthcare giant ($JNJ) is mulling options for its Ortho Clinical Diagnostics business, as CEO Alex Gorsky moves to emphasize the company's best prospects for growth.
Johnson & Johnson paid a pretty penny for orthopedics giant Synthes, but last year's $21.3 billion acquisition made quite a mark on the company's annual report, as J&J posted 6.4% revenue growth in its devices division and a 34.3% jump in its ortho business.
Johnson & Johnson's $21.3 billion Synthes acquisition is starting to pay off, as the company reported a 12.5% third-quarter increase in medical device sales due largely to its fresh-bought orthopedics offerings.
Now that they've completed their stints in federal prison, four former Synthes executives have been essentially banished from the healthcare industry for their roles in the Norian bone cement scandal that left three dead.
Johnson & Johnson's Synthes unit launched a recall of its Hemostatic Bone Putty, warning that the implant could catch fire if exposed to cautery systems during surgery, and the FDA has slapped its most serious label on the affair.
Biomet has begun a gradual process to complete its $280 million cash bid of the global trauma business of DePuy Orthopaedics, a Johnson & Johnson-owned ($JNJ) company.
Johnson & Johnson's ($JNJ) $21.3 billion bid to buy Swiss orthopedic device maker Synthes is finally reaching the regulatory finish line.