COVID-19: Page 35
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Stryker sees 50% of revenue vulnerable to elective procedure pullback
Despite making it out of Q1 with total sales up 2%, the medtech's U.S. orthopaedics and spine sales dropped roughly 65% in April after a near total halt in non-essential procedures due to the coronavirus pandemic.
By Maria Rachal • May 1, 2020 -
Coronavirus surge in critical care sales helps Hillrom beat Q2 guidance
The company on Friday said it is hiring 300 additional staff globally to enable a fivefold increase in production of non-invasive ventilators, while doubling output of other products in high demand for COVID-19 patients.
By Nick Paul Taylor • May 1, 2020 -
COVID-19 spurs 'incredible demand' for ventilators, buoying ResMed's 16% revenue uptick
CEO Mick Farrell told investors sales of breathing assist machines added $35 million in coronavirus-related revenue. However, sleep testing declined by double digits.
By Greg Slabodkin • May 1, 2020 -
Hologic to launch 2nd coronavirus test amid broader sales slide
The molecular diagnostics business posted its best growth rate in eight years, but the breast health and surgical segments slowed as a result of postponed elective surgeries.
By Susan Kelly • April 30, 2020 -
Baxter cites 'extraordinary' Q1 demand from customers fighting coronavirus
Revenues grew 6% to $2.8 billion thanks to growth across all six of the company's global business units and three geographic segments.
By Greg Slabodkin • April 30, 2020 -
AdvaMed pushes US to lift tariffs on Chinese imports of COVID-19 devices
The trade group wants indefinite exemptions for imaging components and devices used in ventilators, among other items. It also floated a compromise: re-imposing them one year after the pandemic passes.
By Nick Paul Taylor • April 30, 2020 -
Boston Scientific sees April sales cut in half amid coronavirus
One potential area of optimism: two-thirds of the device giant's business comes from procedures in outpatient settings like ambulatory surgery centers and physicians offices, which the company expects will resume operations sooner.
By Maria Rachal • April 29, 2020 -
GE reducing healthcare headcount in $700M cost-cutting drive
The cuts come as the conglomerate seeks to adapt its business to volatility and pressures created by the global coronavirus pandemic.
By Nick Paul Taylor • April 29, 2020 -
Retrieved from Flickr.
LabCorp pulls 2020 guidance as testing demand plunges due to COVID-19
CEO Adam Schechter told investors that increasing capacity for coronavirus antibody and molecular tests will likely offset some of the volume shortfall, but that small slice of its business isn't enough to "make up for the difference."
By Greg Slabodkin • April 29, 2020 -
"State Public Health Laboratory in Exton Tests for COVID-19" by Governor Tom Wolf is licensed under CC BY 2.0
LabCorp, Quest expand COVID-19 antibody testing nationwide
Amid the moves by the giant commercial labs, a White House plan released Monday says the administration is still exploring how to improve the reliability of these products.
By Greg Slabodkin • April 28, 2020 -
FDA encourages remote review of digital pathology slides amid COVID-19
The agency's latest effort to support greater access to medical devices during the pandemic follows a move by CMS that opened the door for pathologists to work away from the lab.
By Susan Kelly • April 27, 2020 -
Master Sgt. Hecht, Matt. (2020). [Photograph]. Retrieved from Flickr.
Gottlieb, Slavitt pitch $46.5B plan for COVID-19 contact tracing, isolation
Primary care doctors should be the main referral source for testing and contact tracing, according to a letter penned by a bipartisan group including former CMS head Andy Slavitt and former FDA Commissioner Scott Gottlieb.
By Shannon Muchmore • April 27, 2020 -
Abbott, DiaSorin coronavirus antibody tests get EUAs as lawmakers question others on market
As more diagnostics assessing possible immunity to the virus win FDA emergency use authorization, criticism is mounting over the accuracy of products the agency allowed on the market without the designation.
By Greg Slabodkin • April 27, 2020 -
It's official: EU finalizes 1-year MDR delay
The European Commission listed a 13th notified body designated for Medical Device Regulation-related work in its official database Saturday, the first new firm announced in over a month and the fifth based in Germany.
By Maria Rachal • Updated April 27, 2020 -
FDA moves to boost access to imaging systems during pandemic
The agency is allowing devices to be modified for portable use to enable imaging outside of hospitals in an effort to potentially slow the spread of COVID-19.
By Nick Paul Taylor • April 24, 2020 -
Courtesy of Abbott
FDA OKs updated instructions for Abbott POC coronavirus test amid accuracy concerns
The company's update comes as some providers raise red flags. The Cleveland Clinic compared five COVID-19 testing platforms and found Abbott's point-of-care test had a higher false negative rate than some counterparts.
By Maria Rachal • April 23, 2020 -
MedTech Europe pushes for IVDR delay as MDR hold nears finish line
The trade group warned that "even before the COVID-19 pandemic, very little progress had been achieved" to get the In Vitro Diagnostic Regulation ready, which it said altogether warrants at least a 12-month delay.
By Nick Paul Taylor • April 23, 2020 -
Thermo Fisher and Roche enjoy COVID-19 diagnostic tailwinds, but warn of routine testing declines
Both companies disclosed big hits to business in China during first quarter earnings calls Wednesday, indicating negative impacts in the U.S. and Europe could be more apparent on second quarter balance sheets.
By Nick Paul Taylor • April 22, 2020 -
Medtronic sees US business fall 60% amid pandemic response
The subset of devices suddenly seeing higher demand are mostly low-margin businesses, leading the medtech giant to brace investors for a hit to earnings during next month's quarterly report.
By Maria Rachal • April 22, 2020 -
"State Public Health Laboratory in Exton Tests for COVID-19" by Governor Tom Wolf is licensed under CC BY 2.0
Quest Diagnostics testing volumes plunge due to coronavirus
"We're definitely living in extraordinary times," CEO Steve Rusckowski told investors Wednesday, reporting a decline by more than 40% during the last two weeks of March.
By Greg Slabodkin • April 22, 2020 -
COVID-19 bill with $25B for lab testing signed into law
The clinical lab lobby praised the legislation, which includes funds for serology and molecular testing.
By Shannon Muchmore • Updated April 24, 2020 -
Master Sgt. Hecht, Matt. (2020). [Photograph]. Retrieved from Flickr.
As COVID-19 antibody tests proliferate, analysts see market worth billions for Abbott, Roche and others
Initial serology testing for U.S. healthcare workers alone could represent a $65 million opportunity, Cowen estimated in a report released Tuesday.
By Susan Kelly • April 21, 2020 -
LabCorp coronavirus test gets 1st FDA nod for at-home sample collection
The agency re-issued an emergency use authorization for the lab giant's molecular test to permit self-collection of nasal samples. It comes days after FDA voiced concerns about at-home diagnostics to test for the virus.
By Greg Slabodkin • April 21, 2020 -
ResMed to get biggest bang out of HHS ventilator contracts, analysts predict
Medtronic and Hillrom may see limited gains from their smaller deals, but ResMed’s contract could add a 2.7% bump to growth in the fourth quarter, Needham analysts noted.
By Nick Paul Taylor • April 21, 2020 -
CMS, surgeons group offer paths forward to resume elective procedures
Johnson & Johnson, Abbott and Intuitive Surgical are among the device makers that reported the widespread deprioritization of surgeries during the pandemic dented sales at the end of the first quarter.
By Susan Kelly • April 20, 2020
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