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Healthcare Economics

 

Valeant Pharmaceuticals announced on May 16 that it would reduce the price of two heart drugs by as much as 40 percent. The program will decrease the price of Nitropress and Isuprel, two of Valeant’s medications. 

 

 

Recent Headlines

Medtronic outlines projections, strategy at investor day in New York

During Medtronic’s investor day on June 6 in New York, the company said it expects to deliver approximately $40 billion in free cash in the next five years.

N.J. medical center agrees to pay $450K to settle allegations of inappropriate cardiac procedures

Saint Michael’s Medical Center Inc. agreed to pay $450,000 to resolve allegations that it submitted claims for performing PCIs, catheterizations and stents on Medicare and Medicaid patients that were medically unnecessary, according to a U.S. Department of Justice news release.

Jury rules in favor of CardiAQ Valve Technologies, awards company $70 million

A federal jury in Boston ruled in favor of CardiAQ Valve Technologies and awarded the company $70 million in a lawsuit filed against Neovasc, a former service provider.

Medtronic posts revenue, earnings growth and projects strong fiscal year guidance

Buoyed by its acquisition of Covidien, Medtronic’s revenue increased 6 percent in the fourth quarter of fiscal year 2016 and increased 7 percent for the fiscal year on a comparable, constant currency basis, the company announced on May 31.

Valeant promises to reduce the prices of two heart drugs

Valeant Pharmaceuticals announced on May 16 that it would reduce the price of two heart drugs by as much as 40 percent. The program will decrease the price of Nitropress and Isuprel, two of Valeant’s medications. 

Endologix posts a net loss for first quarter but revenue increases

For the first quarter of 2016, Endologix, Inc.’s revenue increased 16 percent to $42.4 million compared with the same period last year. The company also reported a net loss of $47.7 million for the quarter and a negative adjusted EBITDA of $14.1 million.

Edwards Lifesciences to hold annual shareholder meeting

Edwards Lifesciences will host its annual meeting for shareholders on May 12.

Chiesi agrees to acquire cardiovascular medications from The Medicines Company

Chiesi USA, Inc. agreed to acquire three cardiovascular medications from The Medicines Company on May 9 for up to $792 million. The Medicines Company plans on selling clevidipine (Cleviprex), cangrelor (Kengreal) and its rights to argatroban.

Medtronic hires Parkhill as CFO

Medtronic hired Karen L. Parkhill as the company’s chief financial officer (CFO) on May 4. She will also serve on Medtronic’s executive committee and report to CEO Omar Ishrak.

Impella growth helps Abiomed post strong yearly, quarterly results

Led by strong sales of its Impella devices, Abiomed reported on May 3 that its revenue increased 43 percent to $329.5 million during fiscal year 2016 compared with fiscal year 2015. For the fourth quarter, revenue increased 39 percent to $94.0 million, the 26th consecutive quarter that Abiomed’s revenue has increased by at least 10 percent year-over-year.

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