Rumors have been circulating in recent weeks that the French CEO of Smith & Nephew, Olivier Bohuon, would jump ship to run Paris-based Sanofi. But Bohuon told employees at a town hall meeting that he is "very happy" at Smith & Nephew, and several people with knowledge of the matter said he isn't planning to leave.
A U.K. law successfully thwarts overly aggressive acquisition deals from taking large bites out of the medical device industry in the country.
The clock is about to strike 6 months since Stryker expressed interest in acquiring Smith & Nephew, only to be dissuaded by a rise in that company's stock price once news of the potential deal broke out. And so begins the speculation that Stryker will actually make a bid on the fellow orthopedics company this time around.
Last week, Smith & Nephew announced it was laying off 108 employees due to the closure of its St. Petersburg, FL, operations, saying the advanced wound care business would be better off if it operated in a single location in Fort Worth, Texas. This week it sold its Gilberdyke, England, factory, saying it would manufacture polyurethane films for its wound dressings from the nearby Kingston upon Hull facility instead.
Olivier Bohuon, the CEO of artificial hip and knee maker Smith & Nephew may have a leg up over other potential candidates to take the reins of drugmaker Sanofi after the firing of Christopher Viehbacher last week. He has experience in pharma and has excelled at Smith & Nephew by moving it into new markets. Most importantly, he is French.
Smith & Nephew officials stressed their plan to sell midtier orthopedics in emerging markets during the company's Q3 earnings call, but many are wondering about rumors that CEO Olivier Bohuon is among the contenders in Sanofi's CEO search.
British orthopedics giant Smith & Nephew scored a win in its ongoing patent battle with rival Arthrex, as the U.S. Patent and Trademark Office ruled in favor of one of the company's patents for suture anchor technology.
Last spring a prominent analyst suggested that a successful late-stage study for Smith & Nephew's spray-on cell therapy for wound healing could be a catalyst to break up the company a la Abbott and Baxter. But today, the discussion of the much buzzed-about trigger event turned bitter after the company reported that the Phase III trial flopped.
The European Union's antitrust unit is worried that Zimmer's $13.4 billion bid for crosstown rival Biomet will limit competition and wants to look into the deal further.
Cooking the books doesn't pay. That's the message the U.S. Department of Justice sent with the strict sentence it got for ArthroCare executives—albeit almost a decade after the problematic bookkeeping practices began.