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Stock Market & Financial Investment News

News Breaks
April 11, 2014
08:10 EDTCOVCovidien implements voluntary recall of devices
Covidien announced that it has notified customers of a voluntary recall to address an issue with certain lots of its Pipeline Embolization Device and Alligator Retrieval Device where the polytetrafluoroethylene, or PTFE, coating applied to the delivery wire could delaminate and detach from the devices. Delamination of the PTFE coating could potentially lead to embolic occlusion in the cerebral vasculature with the risk of stroke and/or death. A total of 32 Pipeline Embolization Devices and 621 Alligator Retrieval Devices are affected by this recall. The products were manufactured and distributed from May 2013 to March 2014.Covidien learned of this issue through internal product testing. The company has not received any reports of patient injuries to date related to this issue. Covidien alerted customers to the recall by letter on April 1, and is arranging for replacement of the recalled products. The FDA and other regulatory bodies also have been notified, the company said.
News For COV From The Last 14 Days
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November 26, 2014
15:21 EDTCOVMedtronic acquisition of Covidien receives U.S. FTC clearance
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14:28 EDTCOVMedtronic agrees to divest Covidien drug-coated balloon catheter business
Medtronic (MDT) has agreed to divest the drug-coated balloon catheter business of Covidien (COV) in order to settle Federal Trade Commission charges that its $42.9B acquisition of Covidien would likely be anticompetitive. Under the FTC’s proposed settlement, Medtronic will sell the drug-coated balloon catheter business to medical device company Spectranetics (SPNC), the FTC announced. According to the FTC’s complaint both Medtronic and Covidien are developing drug-coated balloon catheters to compete with C.R. Bard (BCR), which currently is the only company that supplies these products, used to treat peripheral artery disease, in the U.S. market. Medtronic and Covidien are the only companies with products in clinical trials in the Food and Drug Administration’s approval process, which makes it unlikely that other competitors could enter the market in time to counteract the effects of the merger, the FTC alleges. The Commission vote to accept the proposed consent order for public comment was 5-0. The FTC will publish the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through December 29, after which the Commission will decide whether to make the proposed consent order final.
November 24, 2014
16:16 EDTCOVCovidien discloses Health and Humann Services subpoena
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16:06 EDTCOVCovidien announces 510(k) clearance for balloon catheter
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November 21, 2014
13:31 EDTCOVCovidien announces mailing of definitive joint proxy statement, prospectus
Covidien (COV) announced, for purposes of the Irish Takeover Rules, that the definitive joint proxy statement of Covidien and Medtronic (MDT), which also serves as a prospectus of Medtronic Holdings Limited and comprises Covidien’s scheme circular required under Irish law is being sent today to Covidien and Medtronic shareholders. As previously announced, on June 15, Covidien and Medtronic entered into a definitive agreement pursuant to which Medtronic Holdings Limited, a new holding company incorporated in Ireland that will be renamed Medtronic plc, will acquire Covidien and Medtronic. The joint proxy statement/prospectus will contain important information about the transaction for shareholders of both companies, as well as notices of the shareholder meetings and instructions on voting online, by mail, by telephone or in person.
November 20, 2014
05:14 EDTCOVCovidien achieves CE Mark for Nellcor Bedside SpO2 Patient Monitoring System
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November 19, 2014
08:15 EDTCOVMedtronic reported solid Q2 results, says Bernstein
Bernstein notes that Medtronic's (MDT) sales growth accelerated to 5%, and the firm thinks the company's market share of the ICD market is poised to increase next quarter. Bernstein views Medtronic as "a strong buy" into the close of its acquisition of Covidien (COV). The firm reiterates an Outperform rating on Medtronic.
06:54 EDTCOVMedtronic reiterated as a top pick at JPMorgan
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November 18, 2014
12:08 EDTCOVOn The Fly: Midday Wrap
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09:08 EDTCOVMedtronic says regulatory processes for Covidien deal 'all on track'
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07:20 EDTCOVMedtronic confirms commitment to Covidien transaction
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November 14, 2014
17:27 EDTCOVPaulson & Co. gives quarterly update on stakes
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12:43 EDTCOVMedtronic readying $10B bond sale for Covidien deal, WSJ reports
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11:50 EDTCOVMedtronic readying $10B bond sale for Covidien deal, Dow reports
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