When Thermo Fisher Scientific announced a $3.2 billion bond offering Wednesday, Fitch Ratings promptly lowered the medical device maker's credit rating to BBB and Moody's Investors Service said it likely will do the same.
Albany, NY, device outfit AngioDynamics is planning to consolidate two of its plants, shedding up to 100 employees in an effort to save as much as $18 million over the next three years.
Sweden's Getinge Group will snatch up Germany's Pulsion Medical Systems in a $189 million deal that boosts its presence in the patient monitoring med tech space.
Teva Pharmaceutical Industries is searching for a new CEO while in the midst of a restructuring that will whack 5,000 jobs and counting the days until its top-selling drug falls off a patent cliff. But its interim leader says investors should not worry. The company has a plan.
Dendreon's lead treatment, prostate cancer vaccine Provenge, continues to post sales losses, leaving many pessimistic that the struggling biotech will be able to right the ship. Now, however, it appears one of the company's doubters may have had an ulterior motive.
Novo Nordisk, the world leader in insulin products, took a big hit this year when the FDA denied approval of its newest long-lasting insulin drug, Tresiba. But CEO Lars Rebien Sørensen is taking every opportunity to let the markets know that Novo has lots of growth in its business.
Volcano has approved a $200 million stock repurchase plan, a sign the company is listening to an activist investor that wants it to boost its share value and find itself a buyer.
Inogen has unveiled plans for an IPO worth as much as $86.2 million, becoming one of the few medical device companies to make such a move this year.
Analysts two weeks ago predicted Forest Laboratories' new CEO was going to have to do something dramatic after the FDA gave a thumbs down to the antipsychotic drug cariprazine. The drug was supposed to help make up for Lexapro falling off the patent cliff. The company didn't disappoint, Monday rolling out a $500 million job-whacking and cost-saving plan, as well as a $400 million share buyback program.
Global R&D spending is unlikely to grow by much more than single digits over the next 5 years, but that won't do much harm to the world's biggest CROs, according to a Morningstar analyst, as the industry's heavyweights are only digging deeper into the operations of their sponsors.