Top Device Companies

Alcon, Advanced Medical Optics, Kinetic Defy Device-Sales Downturn

Alcon, Advanced Medical Optics and Kinetic Concepts are among a few medical-device makers that have bucked the trend in their industry and fared well under the recent economic downturn. Alcon, which makes eye-surgery devices and drugs, did well enough to attract a 25 percent investment by Novartis of Switzerland. Advanced Medical, which makes eye-correction systems, drew attention from Abbott Laboratories, which bought the company. Kinetic Concepts has moved into a similar position, according to a key Wall Street analyst. (Click here for more – a subscription may be required)

“Best On The Street Stock Analysts: Medical Equipment” – Wall Street Journal (5/25/10)

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Abbott, St. Jude, Others See Greater Device Sales Abroad

Abbott Laboratories, St. Jude Medical and other medical-device makers see the immediate future for sales not in the United States where they are based, but abroad. James Mazzo, president of Abbott Medical Optics, said foreign sales have become a large part of his company’s business. Mazzo also serves as chairman of the Advanced Medical Technology Association representing the U.S. device-making industry. St. Jude, Baxter International, Beckman Coulter and other companies saw international sales outpacing U.S. sales in recent quarters, with foreign sales accounting for as much as half of total revenue for some makers. (Click here for more)

“U.S. Medical Device Makers Find Faster Growth Abroad” – Reuters (3/31/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Abbott Optics Subsidiary Head Named New Chairman Of AdvaMed

Abbott Medical Optics Chairman James Mazzo has agreed to serve as chairman of the Advanced Medical Technology Association the next two years. The trade group represents the medical device industry. Mazzo replaces Mike Mussallem, CEO of Edwards Lifesciences. Abbott Medical Optics was bought by Abbott Laboratories last year while Mazzo was CEO of the unit. (Click here for more)

“Abbott Executive To Chair Medical Device Lobby” – CNBC (AP) 3/4/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Abbott Eye-Device Unit Receives FDA Manufacturing Warning Letter

Abbott Laboratories received a warning letter from the FDA complaining of manufacturing violations at its Abbott Medical Optics subsidiary. The plant makes the Healon D ophthalmic viscoelastic device used during eye surgery. Abbott acquired Sweden’s Advanced Medical Optics earlier this year and renamed it Abbott Medical Optics. Abbott made two responses to FDA violation notices earlier in the year, but the agency declared them inadequate, leading it to issuance of the warning letter. (Click here for more – a subscription may be required)

“FDA Warns Abbott Subsidiary Over Manufacturing Violations” – Wall Street Journal (12/15/09)

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Advanced Medical Sued In Texas For Opthalmic Viscosurgical Device

Advanced Medical Optics is being sued in Texas over its Healon D Opthalmic Viscosurgical Device. The product liability suit was filed in a Texas federal court by a man who said the device caused eye inflammation following cataract surgery. The suit notes the device was the subject of a Class I recall two days after the operation for similar complaints. The plaintiff alleges negligence on Advanced Medical’s part during the testing process. (Click here for more)

“Texas Man Claims Recalled Device Caused Eye Problems” – S.E. Texas Legal Journal (12/7/09)

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Abbott, Advanced Medical, Alcon, Others Get Laser Warning From FDA

Abbott Laboratories, Advanced Medical Optics, Alcon and other companies that make lasers used in Lasik surgery are affected by an FDA warning to centers providing the treatment. The agency sent letters to 17 centers advising them they needed to do more to report complications from their procedures. The three companies, as well as the rest of the firms in the business, operate Lasik centers. (Click here for more)

“Lasik Centers Warned As U.S. Starts Study” – Cincinnati Enquirer (10/16/09)

Medical Device Manufacturers’ Employee Training Programs Are Under FDA Scrutiny -- Click Here To Find Out Why...

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Abbott Looks To Devices Growth To Offset Declines At Drugs Business

Abbott Laboratories hopes to offset sales declines caused by increasing competition in the drug side of its business by promoting devices such as heart stents and equipment for use in eye surgery. CEO Miles White said those devices are geared to lower reliance on the very drugs, such as its Depakote, for which the company’s own sales are slowing. Abbott is relying in part on its acquisition of Advanced Medical Optics, the world’s largest maker of eye-surgery equipment, to reduce Abbott’s overall costs and give it a large role in that segment of the device market.(Click here for more)

“Abbott Profit Slips As Depakote Faces Cheap Copies” – Bloomberg (7/15/09)

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Bausch & Lomb IOL deal

Article preview from "The Gray Sheet" - March 2009

Eye care giant gains worldwide rights, excluding Japan, to Santen Pharmaceutical's hydrophobic acrylic polymers, which will be used in the development of intraocular lenses. B&L currently markets IOL products including Crystalens, the only FDA-approved accommodating IOL, Akreos and SofPort. The acquisition of Crystalens maker Eyeonics in 2008 marked B&L's entry into the premium IOL market, in which it competes with Alcon and Abbott subsidiary Advanced Medical Optics...

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Difficult Days for Laser Vision Correction Market and AMO

Article preview from Medtech Insight - January 2009

As economic conditions worsened over the course of 2008, consumers pulled back on discretionary, big-ticket purchases, directly impacting laser vision correction volume trends in the US, including the popular LASIK procedure. At the same time, the cataract surgery market seems to be recession-proof.

Deals Update

Article preview from Medtech Insight - February 2009

A roundup of recent medtech strategic alliances, mergers & acquisitions and financings.