Massachusetts Biotech Sees Record Year for IPOs

It’s been a pretty good year for mergers and acquisitions in the biopharma industry, with Takeda Pharmaceutical buying Shire for $62.2 billion, and the year starting with Sanofi buying Bioverativfor $11.6 billion and then Ablynx for $4.8 billion. Celgene acquired Juno Therapeutics for $9 billion, shortly after buying Impact Biomedicines for $1.1 billion. But the landscape for initial public offerings (IPOs) has been excellent as well, particularly in Massachusetts, which has recorded 13 IPOs…

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GE to Spin Off Healthcare Division

After a year of soul searching and strategic review, GE announced its move today to spin off GE Healthcare into a standalone company over the next 12 to 18 months. The goal, the company said, is a leaner corporate structure with substantial reductions in debt. Healthcare is one of eight businesses GE operates that also…

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FDA Approves First Marijuana-derived Drug for Severe Forms of Epilepsy

The U.S. Food and Drug Administration today approved Epidiolex (cannabidiol) [CBD] oral solution for the treatment of seizures associated with two rare and severe forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients two years of age and older. This is the first FDA-approved drug that contains a purified drug substance derived from marijuana.…

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White House Proposes 30% Cut to FDA Headcount

The Trump administration this week submitted a proposal that would cut the budget and staff at the FDA, as well as reorganizing the agency to remove food regulation from its purview, according to a new Endpoints News report. The proposal would cut $1.3 billion in resources from the agency and 5,000 members of its staff and leave…

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World’s First Long-Term Implantable Glucose Monitoring Device Now FDA Approved

GERMANTOWN, Md., June 21, 2018 — Senseonics Holdings, Inc. (NYSE American: SENS) today announced the U.S. Food and Drug Administration has approved its Pre-market Approval (PMA) application to market the company’s Eversense® Continuous Glucose Monitoring (CGM) System to people with diabetes in the United States. The system is the first and only CGM system to feature…

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GE Booted From the Dow After More Than 100 Years

For the first time in 110 years, General Electric will not be a member of the elite Dow Jones Industrial Average. S&P Dow Jones Indices announced on Tuesday that the iconic maker of light bulbs and jet engines will be replaced in the 30-stock index by Walgreens Boots Alliance. GE (GE) was an original member of the…

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Boston Scientific Will Not Comment on Reported Stryker Takeover Offer

Boston Scientific said Monday it won’t comment on reports rival medical device manufacturer Stryker made a takeover bid, which was first reported by The Wall Street Journal. Stryker’s shares tumbled more than 4 percent, and Boston Scientific’s rose nearly 8 percent Monday in afternoon trading. They were halted before Boston released its statement. “Boston Scientific … is aware…

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Stryker Makes Takeover Approach to Boston Scientific

Boston Scientific shares rose nearly 7 percent Monday after the Wall Street Journal reported rival medical device manufacturer Stryker approached it with a takeover bid. A deal would combine two medical device giants into a powerhouse with a combined value of more than $110 billion, The Wall Street Journal reported, citing people familiar with the matter. Sources told…

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5 new deaths from liquid-filled intragastric balloons prompt FDA warning

The FDA today released a notice warning of five new patient deaths related to two liquid-filled intragastric balloon systems used to treat obesity, produced by Apollo Endosurgery (NSDQ:APEN) and ReShape Lifesciences (NSDQ:RSLS). The additional deaths bring the total number of deaths worldwide from the Orbera intragastric balloon and ReShape integrated dual balloon system up to 12 since 2016, the…

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Layoffs at IBM Watson Health Spark Concerns

IBM has laid off approximately 50 to 70 percent of staff this week in its Watson Health division, according to inside sources. The axe, we’re told, is largely falling on IBMers within companies the IT goliath has taken over in the past few years to augment Watson‘s credentials in the health industry. These include medical data…

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