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.
A few potential deals have already caved under the weight of new U.S. tax rules that discourage inversion deals. Not Mylan's. The Pittsburgh-based company is pushing ahead with a $5.3 billion plan to buy a piece of Abbott Laboratories' overseas generics business--with a few edits, of course.
Device advice was in abundance at today's Food and Drug Law Institute panel discussion on the industry's compliance with promotion and advertising regs, featuring prominent industry lawyers from Medtronic, Covidien, Abbott and law firms.
Treasury Secretary Jacob Lew yesterday unveiled a plethora reforms to make tax inversion more difficult and less attractive, potentially killing a plethora of pending mergers with foreign companies, including Medtronic's $43 billion tie-up with Ireland's Covidien.