India's efforts to smooth over trade disputes with the European Union will lead to a resumption of bilateral talks early next year, but GVK Biosciences will have to be satisfied with watching from the sidelines.
Indian commerce officials say the European Union is showing a willingness to restart trade talks and separate those discussions from a ban on 700 drugs tested in India that imperils exports worth billions of dollars, according to a report by India's Economic Times.
European researchers from several companies and academic centers are working toward creating a photonic laser-based device that would enable the diagnosis and monitoring of cancer patients in the physician's office. The four-year project is funded via Horizon 2020, the largest and latest EU R&D initiative that's investing a total of almost €80 billion ($86.9 billion) from 2014 to 2020 to stimulate technology transfer.
The FDA is putting increased focus on approving devices faster, as it races to catch up to its European Union counterpart. But University of Pennsylvania researchers were surprised to find that the agency is actually regulating devices appropriately, while European regulators are not.
Stryker took an earnings hit during the third quarter, in part to repatriate $2 billion in cash for acquisitions and to establish an EU regional headquarters in Amsterdam, where it has moved some intellectual property. The IP transfer is expected to reduce its effective tax rate from an expected 22% in 2014 to 20% next year.
The European Union suspended shipments of EndoBarrier, an obesity device from GI Dynamics, for reasons undisclosed by the company. GI Dynamics said the situation is temporary and does not apply to product already in the hands of hospitals and distributors.
ReShape Medical revealed the first postapproval data from the EU for its nonsurgical, balloon-based weight-loss system: 42% of excess weight loss on average with a variance of 23%. But the company cautions that because of the different way the trials are designed, it won't have similar results when it releases pivotal U.S. trial data in November.
Cataracts are big business for Abbott. It's ready to roll out the latest in its line of implantable Tecnis lenses in Europe after recently receiving a CE Mark for the product, which will be used to treat cataract patients who may also have a diminished ability, due to aging, to focus on near objects (presbyopia).
In 2012, an immediate action plan as well as new medical device legislation were proposed in the European Union. This week, the Employment, Social Policy, Health and Consumer Affairs Council of the European Commission declared the action plan a success and issued its vision for upcoming legislative changes.
After a headline-grabbing breast implant scandal rocked the continent, EU regulators are considering a more stringent approach to medical device regulation, a proposal industry leaders say would hamstring Europe's successful medical device sector.