Originally Published MX September/October 2005
BUSINESS NEWS
Unsettling WordsSettlement discussions between Boston Scientific Corp. (Natick, MA) and Medinol Ltd. (Tel Aviv, Israel) are said to be close to resolving the former partners' cross-litigation over contractual issues and patents relating to cardiac stent design. If no settlement is reached, the trial is scheduled to resume in the federal district court in New York on September 19.
A new report commissioned by industry association AdvaMed (Washington, DC) identifies significant barriers affecting access and innovation in the in vitro diagnostics sector. The report urges modernization of Medicare's clinical laboratory fee schedule. Copies of the full report, The Value of Diagnostics, are available via the AdvaMed Web site at www.advamed.org/publicdocs/thevalueofdiagnostics.pdf.
In July, ending a protracted and contentious product review process, FDA granted Cyberonics Inc. (Houston) final approval to market its Vagus Nerve Stimulation (VNS) device for treatment-resistant depression.
AdvaMed (Washington, DC) has selected Stephen J. Ubl as its new president and CEO. Ubl formerly served as AdvaMed's executive vice president for government relations from 1998 until 2004.
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