Fri, Nov. 20, 7:49 AM
- With the aim of enhancing its presence in the home care market, C.R. Bard (NYSE:BCR) acquires Liberator Medical Holdings (NYSEMKT:LBMH), a direct-to-consumer distributor of Durable Medical Equipment (DME), for $3.35 per share (~$181M).
- Liberator sells general medical supplies including urological catheters, ostomy products, mastectomy fashions, diabetic supplies and a modest amount of Bard's products.
- The transaction, which will add ~$70M to Bard's top line and be slightly accretive to non-GAAP EPS in 2016, should close in Q1. Starting in 2017, the acquisition will add between five and ten cents to non-GAAP cash EPS.
- LBMH is up 25% premarket.
Fri, Oct. 23, 9:20 AM
- C. R. Bard (BCR -0.02%) Q3 results: Revenues: $865.7M (+4.3%), Vascular: $250.5M (+8.2%), Urology: $212.3M (+1.3%), Oncology: $239.3M (+4.2%), Surgical Specialties: $139.8M (+3.1%), Other: $23.8M (+0.8%) COGS: $336.3M (+8.9%); R&D Expense: $65.2M (-10.8%); SG&A: $247.1M (+2.1%); Net Loss: ($86M) (-165.5%); Loss Per Share: ($1.16) (-168.6%); Non-GAAP EPS: $2.28M (+6.0%).
- No guidance given.
Thu, Oct. 22, 4:22 PM
Wed, Oct. 21, 5:35 PM
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Wed, Oct. 14, 4:19 PM
Wed, Oct. 14, 10:28 AM
- In a partial victory for Boston Scientific (BSX +0.1%), a Delaware court reduces a $100M verdict award in to a woman in May for injuries allegedly suffered from the company's transvaginal mesh device to $10M. Judge Mary Johnston referred to the original award as "grossly disproportionate to the injuries suffered and shocks the court's conscience and sense of justice." The company wanted the entire verdict set aside and a new trial, but the judge denied the request. It intends to appeal the decision.
- In April, it settled 2,970 mesh-related lawsuits for $119M. Many more remain outstanding, however, for the company and fellow mesh manufacturers Johnson and Johnson (JNJ -1.3%) an C.R. Bard (BCR -0.1%).
- Previously: Boston Scientific on the hook for $100M in Delaware transvaginal mesh trial (May 28)
Mon, Aug. 31, 4:08 PM
- PTC Therapeutics (PTCT -6.2%) initiated with Buy rating and $90 (135% upside) price target by Citi.
- Patterson Companies (PDCO -1.1%) upgraded to Overweight from Neutral by Piper Jaffray. Price target raised to $54 (18% upside) from $48.
- Acadia Pharmaceuticals (ACAD -4.1%) upgraded to Overweight from Neutral with a price target of $48 (30% upside) by Piper Jaffray.
- Boston Scientific (BSX -1.9%) upgraded to Buy from Neutral with a $20 (19% upside) price target by Goldman Sachs.
- CR Bard (BCR -1.8%) upgraded to Buy from Neutral with a $220 (14% upside) price target by Goldman Sachs.
- Sarepta Therapeutics (SRPT -2.7%) upgraded to Overweight from Neutral by Piper Jaffray. Price target raised to $48 (34% upside) from $28.
- Bristol-Myers Squibb (BMY -1.8%) upgraded to Neutral from Underweight by Piper Jaffray. Price target maintained at $61 (2% upside).
- MacroCure (MCUR -3.7%) downgraded to Neutral from Outperform by Credit Suisse. Price target lowered to $5 (63% upside) from $15.
Mon, Aug. 3, 10:23 AM
- The U.S. Centers for Medicare and Medicaid Services (CMS) approves a new technology add-on payment for C.R. Bard's (BCR) Lutonix Drug-Coated Balloon (DCB) under the Medicare hospital inpatient prospective payment system to help cover additional costs incurred by hospitals treating Medicare beneficiaries with the product. The maximum add-on payment, which will go into effect on October 1, will be $1,036 when DCBs are used for inpatient peripheral procedures and the total device costs exceed the allowance under existing DRG reimbursement.
- The Lutonix 035 DCB is an angioplasty balloon coated with a therapeutic dose of paclitaxel.
- Update: CMS approves a maximum add-on payment of $1,035.72 for Medtronic's (MDT -0.7%) IN.PACT Admiral DCB.
Fri, Jul. 24, 6:37 AM
- C. R. Bard (BCR) Q2 results: Revenues: $859.8M (+4.0%), Vascular: $248.6M (+6.7%), Urology: $209.2M (+1.0%), Oncology: $235.2M (+4.7%), Surgical Specialities: $143.8M (+3.2%), Other: $23M (unch); COGS: $333.7M (+4.1%); R&D Expense: $64M (-25.1%); SG&A: $250M (+2.0%); Net Loss: ($54.7M) (+54.2%); Loss Per Share: ($0.74) (+53.5%); Non-GAAP EPS: $2.27 (+10.2%).
- No guidance given.
Thu, Jul. 23, 4:19 PM
Wed, Jul. 22, 5:35 PM
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Wed, Jul. 22, 1:09 PM
Wed, Jun. 10, 4:45 PM| Wed, Jun. 10, 4:45 PM | 1 Comment
Thu, May 28, 12:42 PM
- Boston Scientific (BSX +1.8%) loses another product liability lawsuit related to its transvaginal mesh. A Delaware court has ordered the company to pay plaintiff Deborah Barba $25M in compensatory damages plus $75M in punitive damages, according to the law firm that represented Ms. Barba.
- Last month, the company announced that it reached agreements to settle 2,970 mesh-related suits for $119M. In November, it lost a suit brought by four women who claimed they were injured from the use of the product. The award was $26.7M.
- Lawyers are having a field day suing mesh manufacturers. Boston Scientific, Johnson & Johnson (JNJ -0.3%) and C.R. Bard (BCR -0.5%) still face close to 70K product liability lawsuits alleging poor design. The mesh, implanted in women for the treatment of incontinence and/or to support internal organs, had a tendency to erode over time causing organ damage and pain.
- Previously: Boston Sci loses first federal case over vaginal mesh product (Nov. 14, 2014)
Thu, Apr. 23, 4:23 PM| Thu, Apr. 23, 4:23 PM | Comment!
Thu, Apr. 23, 4:19 PM
CR Bard Inc manufactures, distributes and sells medical, surgical, diagnostic and patient care devices. The Company sells its products to hospitals, individual healthcare professionals, and extended care facilities.
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