defibrillators
Guidant sues Johnson & Johnson over merger
Guidant Corporation announced that it will sue Johnson & Johnson in an effort to force the completion of the merger of the two companies. The news came on the same day at that the SEC announced it will investigate the circumstances surrounding Guidant's recall of its faulty defibrillators and pacemakers. The device maker also released 3Q numbers which show just how bad things have gotten. Guidant's earnings are down to $795 million for the quarter, a drop of 14 percent. The company …
... Read more...Guidant to release safety data on its devices
Guidant said it plans to regularly release data on its pacemakers and defibrillators in an effort to address safety concerns. The Indianapolis-based device maker has been the focus of attention since reports earlier this year that it failed to inform regulators about problems with its popular Ventak Prizm and Contak Renewal implants. This week, the company announced it is the subject of a Department of Justice probe into the circumstances surrounding its recall of both models. Over the …
... Read more...DOJ wants data on device payments
The Justice Department has launched an investigation into possible violations of anti-fraud and anti-kickback laws by leading medical device manufacturers. Medtronic, Guidant and St. Jude Medical are the focus of an investigation headed by the US attorney's office in Boston into possible improper payments made to doctors. With competition in the market for defibrillators and pacemakers intense, some critics have questioned the tactics companies use to win customers. In September, The …
... Read more...J&J wants new terms for Guidant deal
Johnson & Johnson is probably not planning on backing out of its merger with Guidant, according to insiders close to the transaction. Instead the company wants to renegotiate the $24.4 billion price tag it agreed on earlier for the Indianapolis-based device maker. The tough tactics may backfire, however, and lead to a legal battle between the two companies. The clear factor behind the decision, according to most analysts, was this summer's recall of 88,000 defibrillators and nearly …
... Read more...Rumor Mill: J&J might bail out of Guidant merger
Johnson & Johnson CFO Robert Darretta told analysts that his company expects Federal Trade Commission approval for its acquisition of Guidant but that it is considering "alternatives" to the blockbuster deal. Observers immediately interpreted that to mean that the company is considering either renegotiating a new price in light of the device maker's recent problems or abandoning the deal altogether. Guidant's shares fell nearly 10 percent in morning trading. The company has been hard …
... Read more...ALSO NOTED: Pediatricians outline ways to beat SIDS; Medical billing berated; and much more...
> The nation's largest pediatricians group released new guidelines for preventing SIDS. Article
> Officials in Los Angeles have dropped a plan to close obstetric, pediatric and neonatal units at King Drew Medical Center. Article
> A look at the …
... Read more...ALSO NOTED: Trend: Employee benefits portals; Defibrillators cost-effective; and much more...
> The Supreme Court heard the government's case against Oregon's physician-assisted suicide law yesterday. Article
> Six more people have died from a mysterious respiratory virus at the Seven Oaks Home for the Aged in Toronto, bringing the toll to 16. …
... Read more...Med Tech: Guidant survey payment raises questions
Guidant paid doctors to participate in an evaluation of a new component that works with its pacemakers and defibrillators, a practice which some critics say raises ethical issues. The New York Times reports that the company paid doctors a fee of $1,000 if they agreed to implant a new version of a lead that connects its implant to the heart and complete a survey detailing their reactions to the technology. According to critics, Guidant's goal was to boost sales of its most …
... Read more...Panel critical of device maker; Medtronic may release data
Following a day long meeting of leading cardiologists in Washington sponsored by the Heart Rhythm Society, Medtronic announced that it is considering making public the performance data on its defibrillators. No other major announcements came out of the meeting, but insiders say reporting rules changes are likely given concerns about the recent increase in defibrillator defects. A government study released at the conference found that the number of problems has risen sharply over the last …
... Read more...FDA releases new defibrillator safety data
The Food and Drug Administration is expected to release new data this morning which shows that the number of problems with defibrillators rose sharply between 1992 and 2002. According to the FDA, pacemakers have shown an improvement over the same time frame, with the number of problems reported showing a decline. Between 1990 and 2002, the agency said 62 people died as a result of the failure either pacemakers or defibrillator failure.
Some observers are pointing at …
