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News Breaks
April 13, 2014
15:10 EDTMDT, EWMedtronic says CoreValve ruling has no impact outside U.S.
The Federal District Court of Delaware granted in part Edwards Lifesciences' (EW) motion for a preliminary injunction that prevents Medtronic (MDT) from selling or offering to sell its CoreValve System in the United States. The ruling has no impact on the sale or marketing of CoreValve outside of the United States or the use of CoreValve in the current U.S. clinical trials. At Medtronic's request, the Federal District Court agreed to postpone the implementation of the order for seven business days to allow Medtronic to seek prompt relief from the Federal Circuit Court of Appeals. Medtronic is appealing the court's injunction, and intends to ask the Federal Circuit Court of Appeals to prevent it from going into effect until it determines if the injunction was properly issued. In addition, the court ordered Medtronic and Edwards Lifesciences to enter into discussions immediately to agree on a mechanism that will enable physicians at facilities currently trained on CoreValve to make a clinical judgment as to which device to implant, CoreValve or the Edwards device, free from the limitations of the injunction. The court stated that CoreValve is a 'safer device, and that patients in whom it is implanted have better outcomes with a lower risk of death.' The court also found that the public interest favors enforcement of patent rights. The CoreValve System received approval from the FDA in January for patients at extreme risk for surgical valve replacement. Prior to that date, CoreValve therapy was available to extreme risk patients who were eligible to participate in the U.S. clinical trial.
News For MDT;EW From The Last 14 Days
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November 19, 2014
08:15 EDTMDTMedtronic 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 EDTMDTMedtronic reiterated as a top pick at JPMorgan
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November 18, 2014
12:08 EDTMDTOn The Fly: Midday Wrap
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09:08 EDTMDTMedtronic says regulatory processes for Covidien deal 'all on track'
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08:39 EDTMDTMedtronic says 'would not be surprised' to be at high end of FY15 guidance range
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08:39 EDTMDTMedtronic sees 2H15 gross margin 74.5%
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08:34 EDTMDTMedtronic sees Diabetes operations to have difficult comparison in Q3
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08:28 EDTMDTMedtronic sees U.S. approval for IMPACT Admiral balloon in Q1
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07:20 EDTMDTMedtronic confirms commitment to Covidien transaction
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07:19 EDTMDTMedtronic backs FY15 EPS $4.00-$4.10, consensus $4.05
Narrows FY15 revenue guidance to up 4%-5% from 3%-5%.
07:17 EDTMDTMedtronic reports Q2 EPS 96c, consensus 96c
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November 17, 2014
15:16 EDTMDTNotable companies reporting before tomorrow's open
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08:57 EDTMDTMedtronic volatility elevated into Q2 and outlook
Medtronic November call option implied volatility is at 28, December is at 21, January is at 19, February is at 18; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on November 18.
November 16, 2014
14:08 EDTMDTDaVita announces collaboration with Medtronic
DaVita Kidney Care, a division of DaVita HealthCare Partners (DVA) and leading provider of kidney care services, announced a collaboration with Medtronic (MDT) to better understand cardiovascular health in end stage renal disease, ESRD patients. The collaboration will focus on developing a pilot program using Medtronic's Reveal LINQ Insertable Cardiac Monitoring system to identify cardiac arrhythmias in patients receiving dialysis. "Medtronic recently announced data at the American Society of Nephrology meeting that showed a higher incidence of arrhythmias in patients receiving hemodialysis," said Ven Manda, vice president, Renal Care Solutions at Medtronic. "We are pleased to pursue this collaboration with DaVita to monitor more patients and gather additional data that will further our understanding of the relationship between dialysis and cardiac events in ESRD patients." "Given the high incidence rate of cardiovascular disease and events in ESRD patients, we believe that by collaborating with Medtronic, we can gain knowledge to help improve the lives of ESRD patients," said Mahesh Krishnan, vice president for clinical innovation and public policy for DaVita HealthCare Partners. "Through the collaboration we expect to utilize innovative monitoring technology and data from our DaVita Kidney Care information systems across the country. This effort is poised to improve the lives of patients by proactively detecting and preventing cardiac complications."
November 14, 2014
12:43 EDTMDTMedtronic readying $10B bond sale for Covidien deal, WSJ reports
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11:50 EDTMDTMedtronic readying $10B bond sale for Covidien deal, Dow reports
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November 13, 2014
16:35 EDTMDTMedtronic study reveals heart rhythm disorders in patients with ESRD
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14:50 EDTMDTLonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTMDTLonestar capital to shut down, DJ reports
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13:27 EDTMDTMedtronic likely to continue to make new highs, Barron's says
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