St. Jude Medical is on its way toward concluding a remarkable year on Wall Street. Stock price gains for the Minnesota devicemaker surpassed 67% over the last 12 months, reflecting shareholder confidence over new product launches, higher earnings projections and a massive share repurchase program now underway.
Cleveland-based Synapse Medical pulled in $2.4 million from the Ohio Third Frontier, the state's tech-based economic development initiative, to help develop the next generation of the company's NeuRx diaphragm pacing system for spinal cord injury patients on a ventilator.
Apollo Endosurgery closed its $110 million purchase of Allergan's obesity intervention business this month and has raised $90 million in debt and equity funding to help finance the deal.
Myriad Genetics is feeling the wrath of fearful investors for the second time this fall. Once again, they drove the company's stock down by double digits in the wake of news that the Centers for Medicare and Medicaid Services could slash reimbursement for BRCA cancer predictive tests by up to 50%. Investor pessimism hasn't let up since.
ViewRay is winding up for a global launch of its MRI-guided radiotherapy delivery device, and now it has $30 million in new financing to help get the job done.
Should Novartis sell off its Roche stock, and soon? That's the question Bloomberg poses, now that Roche's voting shares are selling at a big discount to its nonvoting stock. With Novartis weighing all its operations for sale, spinoff, joint venture--what have you--the bet is that CEO Joe Jimenez will liquidate the Roche shares, too.
Belgian outfit Cardio3 Biosciences attracted $5.5 million in new regional government funding to help refinance some debt and also fuel U.S. commercialization plans for C-Cathez, its intramyocardial injection catheter, and its C-Cure stem cell treatment designed to treat heart failure and related ailments.
A little-known research firm took Mindray Medical down a peg or two last Thursday with a series of tweets accusing the Chinese medical device giant of fraud. Ottoman Bay Research's Twitter assault, linking to a report it has published, sent Mindray's stock tumbling 11%.
In a small bit of good news, Quest Diagnostics nudged up the lower end of its earnings-per-share guidance for 2013, But the New Jersey company warned it will still end the year with lower revenue, and that previously discussed challenges including lower test volume and reimbursement pressures won't be going away any time soon.
Earlier this fall, Given Imaging faced down restive shareholder Discovery Group, which urged the Israeli maker of the PillCam endoscopic camera to explore a sale. Now that Covidien will snatch up the company for $860 million, the activist investor has decided to move on.