Top Device Companies

Boston Sci, Thermo Fisher CEO High Pay Relies On Long-Term Action

Boston Scientific and Thermo Fisher CEOs, both only months at their companies, already are listed among the highest-paid executives. But, much of their pay depends on future stock performance. Boston Sci’s J. Raymond Elliott, listed with a $33 million pay package, became CEO last summer and Thermo Fisher’s Marc Casper became CEO only last October. Consultants note pay packages are weighted to encourage the CEO to operate in the firm’s long-term interests by not becoming fully vested until certain targets are met. (Click here for more)

“Big Paydays For New CEOs Often Have Strings Attached” – Boston Globe (4/10/10)

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Merck Outbids Thermo Fisher To Acquire Millipore For $7.2 Billion

Germany’s Merck outbid Thermo Fisher Scientific to acquire Millipore, a maker of equipment for biotechnology laboratories. Merck’s offer of $7.2 billion topped Thermo Fisher’s earlier bid of $6 billion in what Millipore considered a hostile takeover effort. The bid caused Millipore to consider selling itself, attracting Merck’s larger and successful bid. For Merck, ownership of Millipore gives the German company a large presence in the biotechnology industry. (Click here for more)

“Merck To Pay $7.2 Billion For Millipore” – New York Times (2/28/10)

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!

Thermo Fisher, Inverness End Diagnostics Distribution Agreement

Thermo Fisher Scientific lost a $200 million distribution agreement when Inverness Medical Innovations decided to end its agreement and market its diagnostics on its own. The contract, which ends next July 1, involved the Inverness Biosite line of diagnostics. Thermo Fisher said termination of the agreement likely was a response to its decision to expand its own line of products, including competing diagnostics. (Click here for more)

“Inverness Spikes Distribution Agreement With Thermo” – MSN Money (11/10/09)

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Thermo Fisher Cleared To Market Just-Acquired Copeptin Assay In Europe

Thermo Fisher Scientific says its Copeptin assay has been approved for use in the European Union to provide quick and accurate heart-attack diagnoses. The Thermo Fisher diagnostic relies on a biomarker for acute myocardial infarction when the assay is combined with another test. Thermo Fisher acquired the test from Brahms in September for about $470 million as part of an effort to expand in Europe. The company plans to apply for FDA approval next year. (Click here for more)

Thermo Fisher Markets Heart Attack Test In Europe” – Boston Globe (10/26/09)

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Thermo Fisher To Close Iowa Plant, Eliminate 350 Jobs

Thermo Fisher Scientific said it plans to eliminate about 350 jobs next year at its Iowa plant, beginning a phase-out in January. The plant is to close by the end of September, its work to be redistributed to other Thermo Fisher plants. A company spokeswoman said the decision to close the plant in Dubuque was made after a company-wide review of economic options. (Click here for more)

“Thermo Fisher To Close Plant” – Dubuque Telegraph Herald (10/7/09)

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

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Thermo Fisher To Spend $470 Million To Buy German Diagnostics

Thermo Fisher Scientific has agreed to buy in-vitro diagnostics from the German firm Brahms AG for $470 million. The acquisition expected to be completed by the end of the month is to be folded into Thermo Fisher’s specialty diagnostics unit, Analytical Technologies Segment. One of Brahms’ leading diagnostics is its device to detect and monitor treatment of sepsis. (Click here for more)

“Thermo Fisher Acquires German Diagnostics Firm” – Mass High Tech (9/3/09)

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

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BD, 3M, Thermo Fisher, Other Rapid Flu Tests Said Wrong Half The Time

Becton Dickinson, 3M Company, Thermo Fisher Scientific and other makers of rapid tests to detect the H1N1 flu virus are criticized in some medical quarters for making inaccurate tests. An official of Quidel, which calls itself the leading maker of that type of test, with its QuickVue, denied it was inaccurate when used properly. In addition to those three, rapid tests also are made by Meridian Bioscience. Newly published studies and medical testing experts said the rapid tests have more than a 50 percent failure rate in detecting the infections. (Click here for more)

“Quick Tests For The Flu Found Often Inaccurate” – New York Times (8/6/09)

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Thermo Fisher Praised For Ability To Recover From Decline

Thermo Fisher Scientific received the praises of an influential publication that suggested the device maker is in a good position to recover from a 40 percent decline in stock value last year. Barron’s said Thermo Fisher appears to have a “potent business model” based on its emphasis on cash flow. Part of the reason attributed by the report is to the U.S. stimulus plan that offered funds for research and development that could create a demand for Thermo Fisher products. (Click here for more)

“Thermo Fisher Shares Poised to Recover—Barron’s” – Reuters (5/24/09)

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