Medtronic, which manufactures the Infuse Bone Graft device, has been ordered to pay $392 million to Edwards Lifesciences Corp. for infringing on the company’s patent. Medtronic’s CoreValve heart device is sold outside the U.S., but Edwards plans to ask the judge to prevent Medtronic from selling it in the U.S. after a judge ruled the […]
Becky Anderson was awarded $30 million in a malpractice lawsuit after a plastic Medtronic device caught fire in her throat during routine surgery. The plastic tube designed to keep her throat open went up in flames when a laser touched it, causing the hospital to immediately rush Anderson into emergency surgery.
The U.S. Supreme Court upheld a lawsuit ruling against Medtronic that may cost the device manufacturer $200 million. The Supreme Court verified a lower court, which ruled the company infringed upon Edwards Lifesciences’ patent in a heart valve device.
A stock research company believes Medtronic’s Infuse bone graft problems will open up the market to new alternatives. Cockrell Group Research says that revenues for the Infuse bone graft were down 11% due to severe safety issues with the device.
Two scientific studies have found that the Medtronic Infuse Bone Graft may increase risks and not be any more beneficial than current procedures. Both studies were published in the Annals of Internal Medicine and found that the Infuse Bone Graft did not improve pain or function, but did pose additional risks, including cancer.
The U.S. Food and Drug Administration (FDA) has announced a recall of a Medtronic insulin device which could result in diabetes patients getting too much or too little insulin. The Medtronic MiniMed Paradigm Insulin Infusion device could lead to dangerous insulin levels that result in death.
Medical device company Medtronic is cutting 2,000 jobs worldwide due to slow growth, with about half of the layoffs affecting U.S. workers. The company is currently facing legal trouble for its Medtronic Infuse Bone Graft device, which patients say has caused harm.
Medtronic reported that sales of its Infuse Bone Graft have dropped over the fiscal year, from $564 million in 2012 to $468 million 2013. The sales of the controversial medical device were down 18% prior to that, having at one time topped $700 million, according to the company.