New Enterprise Associates has closed a pair of funds totaling $3.15 billion to invest in information technology and healthcare companies. And while med tech may not loom particularly large for NEA, the firm does have roughly a couple of dozen active medical device portfolio companies.
Abbott Laboratories is selling off one-third of the stake in Mylan it acquired through last year's stock swap, a few weeks after Mylan wrapped up its $5.3 billion buyout of Abbott's portfolio of specialty and branded drugs.
The catheter-based insertion of one of the latest generation of drug-coated stents is just as effective as bypass surgery in treating coronary artery disease, according to a study in the latest issue of the New England Journal of Medicine. That was not the case with the prior generations of bare metal or first-generation drug-eluting stents.
As one of the country's large exporting industries, the medical device industry has been hit by the appreciation of the U.S. dollar, which makes exports more expensive and imports cheaper.
It's been less than a week since Mylan completed its deal with Abbott, scooping up a large chunk of the Illinois company's overseas generics business. But CEO Heather Bresch is already hinting at another big transaction.
India's top drugmaker, Sun Pharmaceutical Industries, has agreed to buy GlaxoSmithKline's opiates business in Australia, placing it as one of three owners that control the crop and production in Tasmania that is the world's largest legal supplier of pharmaceutical-grade opiates for painkillers.
Rainbow Medical will open an office in Shanghai to help facilitate strategic deals as part of a $25 million cash infusion from investors in China. The firm is an Israeli-based seed investor and incubator specifically for medical device and medical technology startups.
Abbott Laboratories' sales of medical devices slipped by 3.9% to $1.4 billion in the fourth quarter of 2014 over the same period a year earlier. The company is looking to gain traction in medical devices with its entrance into the electrophysiology market with the December completion of its Topera acquisition.
Abbott Laboratories' diagnostics unit charted sizable gains in 2014, and the company is continuing its upward momentum in the new year with an exclusive licensing deal with the Institut Curie.
Once again, long-term care pharmacy Omnicare is at the center of a Department of Justice kickback probe. This time, the drugmaker in focus is Abbott Laboratories. The drug, Depakote.