Trial testimony: J&J didn't adequately pursue hip implant risk review; Sides wage war in Europe over proposed device regs;

 @FierceMedDev: New special report: Top diagnostics VC investments of 2012. More | Follow @FierceMedDev

 @MarkHFierce: Philips Healthcare had a solid Q4--the overall company, less so. More | Follow @MarkHFierce

 @DamianFierce: Add Smith & Nephew to the list of companies cutting jobs and blaming the 2.3% medical device tax. Report | Follow @DamianFierce

> Johnson & Johnson's ($JNJ) Articular Surface Replacement hip implant was inadequately assessed for risk before surgeons used the flawed device in more than 90,000 patients, according to new court testimony detailed in The New York Times. Story (sub. req.)

> Boston Scientific ($BSX) and St. Jude Medical ($STJ) have both said they're poised for a turnaround in 2013, and it seems they've convinced at least one heavy-hitter: Hedge fund giant BlackRock announced that it's upping its stake in both companies. Article

> Volcano ($VOLC) has launched an iPad app to educate surgeons on vascular procedures with the company's Visions PV .035 Digital IVUS Catheter. More

> Research and teaching hospitals are becoming an increasingly important factor in helping medical device entrepreneurs get their products to market. Story

> Medical device companies seeking to raise new venture capital may want to turn to Asia. Story

> A new blood test in India made by SRL Diagnostics can screen 13 different types of cancers at the diseases' early stages. Story

> The battle continues in Europe over proposed regulations focused on strengthening medical device reviews. Story

Biotech News

 @FierceBiotech: Juventas snaps up business development veteran, more in this week's roundup of hirings and firings in biotech, pharma. More | Follow @FierceBiotech

@JohnCFierce: Odana is one of Merck's top PhIII drugs, and like suvorexant may not sell well against generics. Where's the breakthrough strategy? More | Follow @JohnCFierce

@RyanMFierce: Gilead hungers for more cancer drug deals. But Ariad? Story | Follow @RyanMFierce

> GlaxoSmithKline shoots for combo attack against melanoma in surgery patients. News

> Bayer spotlights positive PhIII data for fat-busting drug. Article

> Merck R&D calls for a time-out on osteo blockbuster hopeful. Report

Pharma News

@FiercePharma: Genzyme's $176K Kynamro price undercuts its $250K-plus rival. But rivalry in orphan drugs isn't the usual. Article | Follow @FiercePharma

@EricPFierce: Medicare refiguring how it will pay for dialysis drugs. It is part of the new payer world. More | Follow @EricPFierce

> U.K. gatekeepers shut out AZ and BMS' new diabetes drug. Story

> Merck has to trim outlook as pipeline poops out. Article

> Pfizer's Zoetis spinoff outshines drug biz, at least for a day. More

> OTC plant bites Novartis' reputation again. Report