Last year, the federal government collected $1.45 billion in settlement from pharmaceutical and medical device companies and the most common charge of alleged misconduct was off-label promotion, according to law firm Skadden.On Wednesday, a Department of Justice official told an audience of medical device lawyers in Minneapolis that illegal off-label promotion can land executives in [...]

In the past, Medtronic CEO Omar Ishrak has said that he sees no upside to selling the spine business that has quarter after quarter hung like an albatross around the neck of the medical device giant.On Tuesday, it appeared as if Ishrak was signaling a shift.“I was not happy with our overall performance. …,” he [...]

Medtronic CEO Omar Ishrak suggested that the long, dark night of the implantable cardioverter defibrillator market may be over as signs of growth and a better financial picture emerges.In hosting the company’s third fiscal-quarter earnings call with analysts on Tuesday, Ishrak said that Medtronic is currently “seeing year-over-year implant volume growth for the first time [...]

It appears that Medtronic (NYSE: MDT) is assuming that all the efforts to repeal the medical device tax are not going to amount to much and that companies will have to pay it.In a conference call with analysts Tuesday morning to discussMedtronic’s quarterly earnings, Goldman Sachs analyst David Roman asked details about the impact of [...]

More and more hospitals are jumping on the bandwagon of healthcare social media.According to Ed Bennet and his handy list of hospitals with a social media presence, there are more than 4,000 hospital social-networking sites, including 1,068 Facebook pages, 575 YouTube channels and 814 Twitter accounts as of October.var page_count = “off”; [...]

Medtronic (NYSE:MDT) announced Friday that the U.S. Food and Drug Administration has approved its Resolute Integrity drug-eluting stent, which is the first stent the agency has approved to treat coronary artery diseases in diabetics.Medtronic believes diabetics suffering from coronary artery disease represent 30 percent of the nearly 1 million percutaneous coronary intervention procedures performed yearly [...]

Last year, Center For Devices and Radiological Health Director Jeffrey Shuren created some ripplesin the European Unionwhen he suggested that unlike in Europe, the U.S. Food and Drug Administration doesn’t treat patients like guinea pigs.The remark was in response to growing criticisms that compared to Europe, FDA moves at a snail’s pace in approving devices, [...]

Not only is the healthcare industry the fastest growing nationwide in terms of jobs, it pays its employees pretty well too.In the list of Fortune magazine’s 25 top-paying companies nationwide, where the most common salaried jobs were compared, the healthcare sector held its own by taking three spots, including the no. 1 position. The list [...]

A Minnesota medical device company that aims to treat diabetes in a new way is raising $1.87 million, according to a regulatory filing.MetaModix, which was founded in 2009 to treat metabolic disorders and is developing a minimally invasive approach to treat type 2 diabetes, appears to have already raised half of the money.In February 2011, [...]

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