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June 5, 2014
05:42 EDTZMH, MDT, JNJ, SYK, SNNMedtronic offer for Smith & Nephew may bring bidding war, says Wells Fargo
Wells Fargo believes a Medtronic (MDT) takeover offer for Smith & Nephew (SNN) would make strategic and financial sense. However, Wells cautions that Smith & Nephew's "relatively small" share in hip and knee implants could put Medtronic at a competitive disadvantage to larger ortho players Johnson & Johnson (JNJ) and Zimmer (ZMH). The firm thinks a potential offer from Medtronic may prompt Stryker (SYK) to reconsider Smith & Nephew, potentially resulting in a bidding war.
News For MDT;SNN;JNJ;ZMH;SYK From The Last 14 Days
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June 24, 2015
13:14 EDTZMHZimmer trading resumes, shares up 96c to $113.66
13:11 EDTZMHZimmer Biomet sees 2015 constant currency revenue growth 1.5%-2.0%
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13:09 EDTZMHZimmer announces completion of Biomet acquisition
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13:00 EDTZMHZimmer trading halted, pending news
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11:54 EDTZMH, SNNSmith & Nephew to acquire Zimmer Unicondylar Knee system in U.S. market
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11:32 EDTSNN, ZMHZimmer required by FTC to divest assets as condition of Biomet acquisition
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June 23, 2015
17:03 EDTMDTMedtronic implements voluntary recall for certain lots of Covidien Shiley tubes
Medtronic announced that on May 8, it began notifying hospitals and distributors worldwide that affected lots of its Covidien Shiley tracheostomy tubes were formed with a wider-angle bend than standard models manufactured after November 29, 2012. The company initiated the field action following a small number of customer complaints that included reports of 12 serious patient injuries, such as breathing difficulties that impacted oxygen levels immediately upon tube placement or discomfort. Replacement of the tracheostomy tube with product manufactured prior to November 29, 2012 addressed the patient breathing difficulty or discomfort. The notification requested all customers and distributors to quarantine and discontinue use of all potentially affected units and return the affected product to the company as soon as possible for credit. Medtronic also took the necessary steps to prevent future shipments of the recalled products. The company also notified regulatory agencies around the world, as appropriate. Since November 29, 2012, Shiley tracheostomy tubes were shipped into Australia, Belgium, Canada, Chile, Germany, Israel, Italy, Japan, Saudi Arabia, Singapore, South Africa, Turkey, Uruguay and the United States of America.
11:20 EDTMDTMedtronic competitive with Edwards after approval, says Wells Fargo
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10:00 EDTSNNOn The Fly: Analyst Upgrade Summary
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09:22 EDTMDTMedtronic announces FDA approval for new TAVR system
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07:25 EDTMDTPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
05:30 EDTSNNSmith & Nephew upgraded to Buy from Neutral at UBS
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June 22, 2015
07:43 EDTSYKStryker management to meet with Deutsche Bank
Meeting to be held in Paris on June 22 hosted by Deutsche Bank.
June 21, 2015
12:42 EDTMDTMedtronic reports five-year follow-up results for Endurant AAA stent graft
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June 19, 2015
17:02 EDTMDTMedtronic acquires Aptus Endosystems for $110M
Medtronic announced it has acquired the assets of Aptus Endosystems, a Sunnyvale, Calif. based, privately held medical device company focused on developing advanced technology for endovascular aneurysm repair and thoracic endovascular aneurysm repair. Medtronic completed its acquisition of the assets of Aptus Endosystems in a transaction valued at approximately $110M. Additional terms of the acquisition were not disclosed.
09:23 EDTMDTMedtronic acquires CardioInsight Technologies
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09:21 EDTMDTMedtronic approves repurchase of addition 80M shares
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09:20 EDTMDTMedtronic raises quarterly dividend by 25% to 38c per share
The board of Medtronic approved a 25% increase in its cash dividend for FY16, raising the quarterly amount to 38c per ordinary share for an annual amount of $1.52 per ordinary share. The dividend is payable on July 17, to shareholders of record at the close of business on June 29.
June 17, 2015
08:05 EDTSNNSmith & Nephew receives $99M patent infringement payment from Arthrex
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07:21 EDTJNJGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
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