GE Healthcare is betting that a more than $1 billion investment over 5 years to train more than 2 million global healthcare providers will pay off. In developed economies, it's looking to ingratiate itself by offering options for improving efficiency as the demand for value-based healthcare looms, while in emerging economies it hopes to establish itself firmly as more people are able to receive basic healthcare.
Despite strong contributions from fingerstick-free blood glucose monitor Freestyle Libre and mitral valve repair device MitraClip--medical devices remained the worst performing business for Abbott Laboratories last quarter as sales climbed 3.1% on an operational basis to $1.3 billion.
Indian drugmaker Biocon is on the road to taking its in-house CRO public, and the company's founder said she's considering making the company an entirely independent operation.
India has fought long and hard for more price caps on essential medicines in the country, with a parliamentary committee in April lobbying for expanded government price control despite pushback from Big Pharma. Now, as part of its latest crusade, the country is extending price caps for two more antibiotics and setting new prices for branded meds.
Companies in India's diamond-cutting district in Surat, Gujurat, are applying their knowledge of lasers to create something else: stents.
The Indian government is forging ahead with its plan to put price controls on medical devices, the most controversial element of an array of reforms designed to bolster the use and manufacture of devices in India.
Lupin, which has been expanding its manufacturing and marketing footprint internationally via M&A, moved on Brazil in May with the acquisition of generics and OTC maker Medquímica Indústria Farmacêutica. But new markets mean new regulations, and the Indian company has been tripped by some issues that led Brazil to ban some of Lupin's antibiotic products.
Vice President Joe Biden weighed in with the Chinese on FDA's efforts to negotiate an agreement to bump up its inspection staff in the country. So did former FDA Commissioner Margaret Hamburg. But it is locally employed FDA staffer Lixia Wang who has won the prize, in part for her efforts to help seal the deal.
Chinese medical device player Mindray Medical was down 7% in early trading on the news that it would acquire the remaining stake of orthopedics player Wuhan Dragonbio Surgical Implant Co. Mindray first gained a controlling stake in Dragonbio for $35.5 million in 2012. Investors may be taking the deal as a sign that a June take-private offer is now off the table. The deal is slated to close this month.
While recent problems in Russia's economy have thrown some deals off course, Western drugmakers in the last several years have built or bought production capacity in Russia to tap what has been seen as an important emerging market. India's Lupin jumped into that market, picking up a company that will give it a production toehold there.