Healthcare Business Review: St Jude’s Defibrillator FAILS Test, Allergan’s PARTNERSHIP
An evaluation of St. Jude Medical’s (NYSE:STJ) Durata heart defibrillator discovered 52 instances of insulation failures with the leads of the device, with one case resulting in death. A previous model was recalled, but modifications to the current version, such as adding more insulation, have not resolved the problems.
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Aetna’s (NYSE:AET) $7.3 billion acquisition of Coventry Health Care Inc. (NYSE:CVH) was the subject of SA author Valuentum, who remarked that “It’s hard not to like a deal that will add strong earnings growth at a reasonable multiple/price.” At the same time, the buyer’s management denied that purchase is politically motivated, saying that “We think it’s safe to say the company feels Medicaid, as well as the Affordable Healthcare Act, is here to stay.”
Shares of the Israeli drug developer Pluristem Therapeutics, Inc. (NASDAQ:PSTI) move up as the firm renews a five-year partnership with a German research institution. Chief Executive Zami Aberman of Pluristem says that the collaboration has been highly supportive of its product pipeline.
Allergan Inc. (NYSE:AGN) and private equity Molecular Partners are partnering in two separate arrangements to discover, develop, and commercialize proprietary therapeutic DARP in products for treating serious ophthalmic diseases, with a specific concentration upon age-related macular degeneration.
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