AbbVie posted promising fourth-quarter earnings fueled by the strong performance of blockbuster Humira. But the company is looking beyond its top-selling med in 2015, focusing on the development of new products to bolster its bottom line as it counters generic competition to some of its key moneymakers.
Avinger raised $65 million in an IPO. That makes it the third med tech IPO for the week, after Entellus Medical and Presbia each priced initial offerings.
Novo Nordisk CEO Lars Sorensen told investors today that 2014 had been a more challenging year than most, then rolled off a series of results that showed significant leaps in sales both in the U.S. and worldwide. He then waved off any worries about a price war in the U.S. being a significant issue for the world's largest maker of insulin products this year.
Aspire Bariatrics has nabbed a $12 million loan facility from Hercules Technology Growth Capital to wrap up its ongoing U.S. pivotal trial and submit a PMA in mid-2015. The company hopes to launch its stomach content-aspirating product in the U.S. in early 2016.
Abaxis makes a range of blood-test analysis systems for both human and animal health, but it was the company's veterinary division that stole the show during its fiscal third-quarter earnings release on Thursday.
Eli Lilly CEO John Lechleiter promised today that the company's finances will improve over the next decade. It would be hard for them to get much worse. Lilly's fourth-quarter net income was down 41%. Its revenue was down 12%. Its earnings were down 40% to $0.40 a share.
Zeltiq Aesthetics gained 4% after it said FDA cleared a new applicator that uses lower temperatures to cut the one-hour treatment time almost in half. Zeltiq's CoolSculpting procedure is cleared by FDA for noninvasive fat reduction in the abdomen, flank and thighs.
Zimmer CEO David Dvorak repeated his promises to close the company's looming $13 billion merger with Biomet by the end of the first quarter and keep all sales positions, during the company's Q4 2014 earnings call.
Celgene edged past analyst estimates for the fourth quarter and full year, with earnings of $3.71 per share and $7.67 billion in revenue for 2014. Its powerhouse remedy for multiple myeloma, Revlimid, still accounts for the lion's share of those sales, at $4.98 billion in 2014 revenue, an increase of 16%.
Abbott Laboratories' sales of medical devices slipped by 3.9% to $1.4 billion in the fourth quarter of 2014 over the same period a year earlier. The company is looking to gain traction in medical devices with its entrance into the electrophysiology market with the December completion of its Topera acquisition.