In a show of force, the Department of Justice just announced two fines against providers for healthcare fraud under the False Claims Act totaling more than $10 million. The news coincided with release of an annual report on healthcare fraud, which claims that the feds recovered $3.3 billion in fiscal year 2014.
For the first couple of years after AbbVie's debut as an independent pharma company, its CEO, Richard Gonzalez, didn't quite follow in Abbott Laboratories CEO Miles White's footsteps compensation-wise, collecting a mere $8 million in 2012 pay. But for 2014, Gonzalez's total compensation amounted to $22 million, according to AbbVie's proxy statement.
Experts at the annual meeting of the American College of Cardiology in San Diego said postmarket registry data collected on Abbott's MitraClip to enable less invasive transcatheter mitral valve repair shows that the device is safe and effective, in line with premarket clinical trial data.
A titanic struggle is nearing its end. Rivals Boston Scientific and Johnson & Johnson are done presenting their arguments in a legal spat involving the disastrous 2005-2006 bidding war and purchase of cardiology player Guidant. The purchase threatens to become an even worse decision for acquirer Boston Scientific, which would owe $7.2 billion if J&J gets its way.
Nonpublic information about Abbott's May agreement to buy CFR Pharmaceuticals helped score a former CFR board member a hefty profit, according to U.S. regulators. And they're charging him with insider trading.
Mounting political tensions between Russia and the West may have recently scared Germany's Fresenius out of a partnership in the country. But they won't spook Abbott Laboratories out of its VeroPharm buy, it announced Friday.
With growing competition in emerging markets, Abbott wants to make sure its products stay in the forefront. So, it's rolling out a new branding campaign to cozy up with consumers and amp up its international name recognition.
Boston Scientific's Synergy bioabsorbable polymer drug-eluting stent is on track for FDA approval after the successful Evolve II clinical trial, experts said, citing data released yesterday at the American Heart Association meeting in Chicago.
Abbott has made its move on a trio of med tech startups focused on cardiovascular catheterization. It is buying electrophysiology startup Topera for $250 million plus undisclosed milestones and has secured the right to purchase Advanced Cardiac Therapeutics, which has a novel ablation catheter. Plus, Abbott Ventures participated in a venture round for VytronUS.
The race to the noninvasive glucose monitor is apparently passé. Right now it's all about getting glucose level data on mobile devices as well as enabling easy analysis and sharing of the data. That's what the wireless glucose monitor from Telcare does. For its efforts, Telcare got a $32.5 million Series C round.