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$MMSI signed an asset purchase agreement with $BDX to buy certain assets which $BDX proposes to sell in connection with its proposed acquisition of $BCR. $MMSI proposes to buy the Aspira Pleural Effusion Drainage Kits and the Aspira Peritoneal Drainage System currently marketed by $BCR. The purchase price is $100MM.
For FY18, $AGN expects its total net revenues to be in the range of $15.0 -15.3Bil and net loss per share is expected to be about $2.27-1.52. The company expects its 1Q18 total net revenues to be about $3.5-3.6Bil and net loss per share of about $1.27-1.07.
Drugmaker $AGN reported a profit for 4Q17 on strong demand for Botox. Net earnings came to $3.05Bil, or $8.88 per share, compared with a year-earlier loss of $70.2MM, or $0.20 loss per share. Adj. EPS was $4.86. Revenue rose 12% YoY to $4.33Bil, helped by the sales growth in drugs like Botox, Alloderm and Juvederm collection.
Surgical equipment manufacturer $SYK slipped into loss during 4Q17, following the passage of the new tax legislation. Net loss during the quarter was $249MM, or $0.66 per share, compared to earnings of $510MM, or $1.34 per share in the prior year period. Adj. EPS rose 10.1% to $1.96. Net sales, however rose 10.0% YoY to $3.5Bil in 4Q17.
The FDA has granted approval to medical devices company $SRDX for its Telemar coronary and peripheral support microcatheter. Pursuant to the 510(K) approval, the company will start distribution of the product in the US in the coming months. The microcatheter is designed to help physicians in complex coronary and peripheral lesions.
$AGN and $IRWD reached an agreement with Indian pharma company Sun Pharma to resolve a patent litigation for the generic version of constipation drug Linzess in the U.S. As per the agreement, Sun Pharma will be able to market the generic version of Linzess in the U.S. from Feb. 1, 2031. All the litigations related to Linzess were dismissed.
$MDT received FDA clearance of the Riptide Aspiration System, adding a valuable tool to the Acute Ischemic Stroke (AIS) product portfolio. This is designed to retrieve thrombus (or blood clot) through the Arc Catheter and restore blood flow in patients experiencing blockage of an artery in the brain, known as an ischemic stroke.
$MDXG announced the first patients have been randomized and enrolled in the pivotal Phase 3 Investigational New Drug clinical trial to assess the safety and efficacy of AmnioFix Injectable in patients with recalcitrant plantar fasciitis pain, which is most common in chronic heel pain in adults. Top-line results from this study are expected in 2H19.
$MDXG successfully settled its longstanding patent infringement lawsuit against Musculoskeletal Transplant Foundation, Inc., Medline Industries, Inc. and Liventa Bioscience, Inc. The company has obtained a Consent Decree and Final Judgment on the validity of the patent and will receive an undisclosed monetary sum.
$LIVN said the first patient has been enrolled in the Behavior of Valve Leaflets and the Incidence of Reduced Mobility Post-Surgical Aortic Valve Implant Study. The study is expected to enroll about 230 patients at 15 sites from the U.S. and Canada to ascertain whether valve leaflets are fully operational following surgery.
$VRTX said the European Commission has granted extension of the Marketing Authorization for ORKAMBI, intended for the treatment of cystic fibrosis (CF) in people with two copies of the F508del mutation, to include children ages 6 through 11. Existing reimbursement agreements in countries such as Ireland will enable rapid access to ORKAMBI.
The FDA has approved an innovative clinician programmer for the SynchroMed-II Intrathecal Drug Delivery system developed by medical technology company $MDT, for chronic pain and spasticity. SynchroMed-II, an implantable pump, delivers medication directly to the fluid around the spinal cord. It is an app that facilitates simple, guided workflows.
$SYK said that for 4Q17 its preliminary results are of net sales growth of 10% to $3.5Bil, while for FY17, its net sales grew 9.9% to $12.4Bil. Excluding the impact of foreign currency & acquisitions, net sales rose 8.1% and 7.1% in 4Q17 and FY17. For 2018, $SYK expects modest headwinds that will be manageable within its overall financial targets.
$OFIX announced preliminary 4Q17 net sales of approx $117MM. These preliminary results represent reported sales growth of 7.7% and constant currency sales growth of 6.1% over 4Q16. As of Dec 31, 2017, cash and cash equivalents were approx $81MM compared to $40MM as of Dec 31, 2016.