St. Jude Medical, which was acquired by Abbott Laboratories in 2017, agreed to pay $27 million to settle allegations the company knowingly sold defective heart devices, the U.S. Justice Department said on July 8.
Abbott announced approvals in Europe for two life-saving pediatric devices, the Masters HP 15mm rotatable mechanical heart valve and the Amplatzer Piccolo Occluder.
The U.S. Food and Drug Administration said three deaths were reported related to Edwards Lifesciences Corp.’s recall of some of the company’s heart devices.
Edwards Lifesciences Corp. paid rival Boston Scientific Corp. $180 million as part of a settlement to end long-standing patent disputes between the two medical device makers.
The U.S. Food and Drug Administration issued a recall of a heart device made by a unit of Johnson & Johnson due to a faulty valve.
Medical device maker Medtronic Plc reported Q1 fiscal 2018 revenue fell short of analysts’ estimates, hurt by lower sales in its diabetes-related device business.
Boston Scientific Corp. said the company was recalling its Lotus range of heart devices, citing reports of problems with the locking mechanism, sending its shares down 7.3 percent in morning trading.
St. Jude Medical Inc. warned that some of its implanted heart devices were at risk of premature battery depletion, a condition it said had been linked to two deaths.
St. Jude Medical Inc. filed a lawsuit against short-selling firm Muddy Waters and cyber security company MedSec Holdings Ltd.