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DTW Podcast: Geoff Martha updates Medtronic’s new course; AJAX CEO Duke Rohlen is funding innovation differently

Medtronic CEO Geoff Martha and Ajax CEO Duke Rohlen share insights and wisdom on this episode of the podcast.

Less than a year into his role as CEO, Geoff Martha and the Medtronic leadership has overseen a significant reorganization of medtech’s largest player.

In our closing keynote conversation, Martha says the company is clearing a minor COVID-19 bump and sees open road for the company to continue to grab share from competitors.

Martha details what products are gaining the most traction while also identifying those that still have some ground to gain.

We also discuss: When it may bring its renal denervation project to the FDA Why Hugo the surgical robot will be worth the wait (and why development has taken more than a decade) Whether or not Medtronic will collaborate more with private equity firms, early-stage incubators and maybe even SPACs? What will the company’s acquisition strategy look like in 2021. And why. Why the price-cutting for drug-eluting …

BD, Scanwell Health collaborating on smartphone-enabled, home COVID-19 rapid test

Becton Dickinson (NYSE:BDX) announced today that it is collaborating with Scanwell Health to create an at-home rapid COVID-19 test.

Scanwell Health, a developer of smartphone-enabled at-home medical tests, will offer its mobile app to pair with a BD antigen test for SARS-CoV-2, the virus causing COVID-19, according to a news release.

As part of the collaboration, Franklin Lakes, N.J.-based BD intends to produce a lateral flow antigen test to pair with the Scanwell app, which will give step-by-step instructions for collecting and transferring a nasal swab sample while the device camera will analyze and interpret results.

Once collected, the test result will be displayed on the screen. The companies are planning to develop functionality to assist in automated reporting to public health agencies, too, as they seek to offer an efficient and scalable rapid antigen home testing solution.

“Testing at home before going out into the public is a criti…

BD wins Frost & Sullivan innovation award for Intevia autoinjector

Frost & Sullivan announced today that it recognizes Becton Dickinson (NYSE:BDX) with a 2020 Global Technology Innovation Award.

BD received the award for its Intevia autoinjector, which, as part of the company’s differentiated self-injection systems portfolio, facilitates high-viscosity biologics delivery for treating chronic diseases, according to a news release.

Get the full story at our sister site, Drug Delivery Business News.

BD secures EUA, CE Mark for molecular test for both COVID-19 and flu

BD today said it received FDA emergency use authorization and CE mar approval for its rapid molecular diagnostic test for both SARS-CoV-2 and Influenza A+B test.

The test can return results in two to three hours and the FDA EUA includes updated information in the test’s instructions for use that addresses variants of the SARS-CoV-2 virus, including the variants from the U.K. and South Africa. A computer analysis showed that 99.9% of the genetic sequences of the new variants are an identical match to at least one of the two molecular targets for the test.

The ability to detect the new variants applies to the standalone SARS-CoV-2 test for the BD Max System.

BD’s SARS-CoV-2/Flu assay runs on the BD Max System and distinguishes between SARS-CoV-2 and Influenza A+B from a single specimen.

“The guidelines from the U.S. Centers for Disease Control and Prevention recommend testing for both Flu and SARS-CoV-2 for all patients who are hos…

MedTech 100 roundup: Index rebounds from dip with another all-time high

The end of January saw the first major dip for the medtech industry but the beginning of February brought yet another peak.

MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29).

The final mark for the week sets an all-time best for the index, which had previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20. The rise has been remarkable, considering the index had never reached even the 100-point mark before November 2020.

Medtech’s latest rise means the index has risen 17.2% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 74.2%.

Here are some of the best-performing medtech stocks from 2020.

Medtech’s performanc…

Becton Dickinson beats The Street, raises 2021 guidance

Becton Dickinson (NYSE:BDX) shares dipped slightly despite first-quarter results that came in well above the consensus forecast.

The Franklin Lakes, N.J.-based company posted profits of $981 million, or $3.35 per share, on sales of $5.3 billion for the three months ended Dec. 31, 2020, tripling its bottom-line on sales growth of 25.8%.

Adjusted to exclude one-time items, earnings per share were $4.55, $1.44 ahead of Wall Street, where analysts were looking for sales of $4.9 billion.

BD received a significant boost from its life sciences segment, which produced nearly $2 billion in revenue, marking a 76.2% year-over-year increase. Much of that came down to COVID-19 diagnostic revenues, which totaled $867 million.

Routine diagnostic testing and specimen collection improved within the segment, although procedure volumes remained below pre-pandemic levels, according to a news release.

“BD’s strong revenue and EPS growth reflect solid execution …

BD touts study of antigen test over molecular test for identifying infectious people

Becton Dickinson (NYSE:BDX) is touting the results of a small, in-house study of its Veritor Plus antigen test over molecular (PCR) tests to indicate whether an infected person is more likely able to spread SARS-CoV-2.

The peer-reviewed study compared antigen and PCR test results to positive results using a viral cell culture test. Viral growth in the cell culture test indicates the presence of live virus in the patient sample, which may indicate the presence of infectious virus at the time the sample was taken. If no growth is present in the viral cell culture test, it is likely that there wasn’t enough viable virus for the patient to be contagious at the time the sample was taken, according to BD. The study was published in Clinical Infectious Diseases.

Get the full story on our sister site, Medical Design & Outsourcing.

BD CEO Polen to also serve as board chair

BD CEO Tom Polen

Tom Polen, the CEO of Becton Dickinson (NYSE:BDX), will also serve as BD’s board chair effective April 28, the company said today.

Polen takes over the board chair slot from former CEO Vincent A. Forlenza, who will retire at that time.

Polen, 47, has held the corner office at BD since January 2020. He joined the Franklin Lakes, N.J.–based company in 1999, rising through the ranks over the years.

“In Tom’s first year as CEO, he faced unprecedented challenges from the global COVID-19 pandemic, and successfully guided the company to assist in the pandemic while also advancing the focus and commitment to quality and compliance across the organization,” said Marshall Larsen, lead director for the BD board.

“Under his leadership, BD developed and rapidly scaled COVID-19 diagnostic testing, increased manufacturing for syringes and needles to meet the needs for worldwide COVID-19 vaccination campaigns and ens…

Biden’s COVID-19 response will make manufacturers busy

(Image courtesy of Biden for President)

Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

Get the full story on our sister site, Medical Design & Outsourcing.

Biden’s COVID-19 response will make manufacturers busy

[Image courtesy of Biden for President]

Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

Get the full story on our sister site, Medical Design & Outsourcing.

Biden’s COVID-19 response will make manufacturers busy

[Image courtesy of Biden for President]Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

Get the full story on our sister site, Medical Design & Outsourcing.

MedTech 100 roundup: Finally a dip as industry stays relatively strong

After three consecutive weeks of record-breaking numbers, medtech industry stocks finally fell backward over the past seven days.

MassDevice‘s MedTech 100 index finished last week at 105.8 (Jan. 15), marking a -0.95% drop from the 106.81 points (the highest ever total for the index) registered at the end of the week prior (Jan. 8). Medtech’s stock performance appeared to mirror overall markets as the S&P 500 Index saw a -1.5% loss, while the Dow Jones Industrial Average fared almost identically to medtech, falling by -0.91%.

The index still remains more than 13 points ahead of its pre-pandemic high of 92.32 on Feb. 19, 2020. Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 70.3% growth in total, as of the end of last week. (Here are some of the best-performing medtech stocks from 2020.)

The industry continues to plug along and businesses continue to operate thro…