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Boston Scientific Corp. (NYSE:BSX) must pay $703 million to Cordis Corp. under the final judgment Tuesday from U.S. District Court in Delware.
The payment, which includes interest, stemmed from jury verdicts against Boston Scientific and Medtronic. The juries found in 2000 and 2005 that the companies infringed on Cordis's patent for the Palmaz balloon expandable stent, according to a Cordis news release.
Medtronic was ordered to pay $521 million.
Cordis Corp. is owned by Johnson & Johnson Co.
Boston Scientific is based in Natick, Mass.
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I feel there is a possibly that M&A could happen around end 2008. The 2nd JWMS deal is issuing too much new shares and very dilutive to existing shareholders (120m + 40m + 20m option), a total of 180m potential new shares to WeiGao. I think BIG has a current total issued shares of around 1.05B shares. Perhaps BIG should use licensing deal with JWMS to extract out some royalty fee from EXCEL DES sales for technology transfer and using BIG's limus on biodegradable polymer patent. BIG should have the first cut of profits from EXCEL DES sales via royalty, then split the remaining profits at 50:50 with WeiGao. BIG can also appoint JWMS as sole distributor for future products like Biomatrix in China when approval is obtained in end 2008. 180m new shares to WeiGao is very dilutive to existing shareholders, esp with regards to any M&A windfall. |
There are a couple of very good techniques to solicit for M&A in medical device industry. One method is to seek for "licensing" partnership. Another method is to seek for "strategic shareholder". When the "licensing / strategic shareholder" deal gets the interest of the potential buyer, the potential buyer may prefer to do an outright M&A. Conor used the "licensing" method for their reservoir holes DES technology to get JNJ to buy them over. With the announcement of LEADERS results earlier this month and more clinical data from TCT2008 in October, my guess is BIG could be already be seeking "licensing" or "strategic shareholder" deals. Biodegradable polymer and totally polymerless DES will be hotly discussed at TCT2008 and these DES technologies are very marketable sales platform (lesser late thrombosis events) to sell DESs.
NEWS RELEASE
BIOSENSORS REPORTS LAPSE OF AGREEMENT TO ACQUIRE ADDITIONAL 50 PERCENT
OF JW MEDICAL SYSTEMS FROM SHANDONG WEIGAO
Biosensors and Shandong Weigao will continue to operate JW Medical Systems asa 50
‐50 joint venture
Singapore 30 September 2008
“Even though the contract to acquire the remaining 50% of JW Medical has lapsed due to the lack of government approval for this proposed transaction, we will continue to work with Weigao for continued growth and success at JW Medical,” commented Mr. Yoh Chie Lu, Chairman of Biosensors. “We remain a 50% shareholder in JW Medical and anticipate strong contributions to our future operating results as a result of our equity stake in this highly successful venture.”
Mr. Michael Kleine, President and CEO said, “Our goal to become the leading drug
‐ Biosensors International Group, Ltd. (“Biosensors” or the “Company”, Bloomberg: BIG SP) announced that the government approvals required for the completion of the acquisition of the additional 50 percent interest in JW Medical Systems Ltd (“JW Medical”) were not obtained by 30 September 2008. As a result the proposed agreement with Shandong Weigao Group Medical Polymer Company Limited (“Weigao”), announced in the Company’s announcement dated 9 January 2008, has expired.‐eluting stent company in Asia remains unchanged. While we could not acquire the remaining 50% of JWMS at this time, we have evaluated several other means of achieving our objective. Biosensors’ regulatory filings in China for our BioMatrix™ drug‐eluting stent are progressing as planned. The strong clinical performance of this technology, demonstrated most recently from the LEADERS clinical trial results, will enable us to introduce our drug‐eluting stents into this high‐growth market in a manner that maximizes Biosensors’ future profitability and growth.”
Yesterday was not a good buy for me, but this morning made me a happy man. Bot at 39 and now sold at 42. Yesterday's purchase will keep until BIG go up to above average price. Contra money in first and wait again for chances.
Now can see a dragonfly doji about to form so good chance. Price at Bollinger's lower band, also chance to reverse upwards.
Cheers.
Bengster, do you have any news about the China Govt.'s approval for BIG to buy over the balance 50% of JWMS. The expiry of this approval is 30.9.08.....
Biosensors and other interesting talks during TCT 2008.
Oct 13th
Other Important DES Programs in Clinical Use Around the Globe Moderators: Dean J. Kereiakes, Manel Sabate
Biolimus A9-Eluting Stent Programs (with an Absorbable PLA Polymer)
2:36 pm - The Biosensors BIOMATRIX Clinical Trial Program Update, Featuring the Leaders Trial - Stephan Windecker
2:46 pm - The Terumo NOBURI Clinical Trial Program Update (NOBURI I and II) -Bernard R. Chevalier
2:54 pm - The Xtent CUSTOM Modular DES Clinical Trial Program Update (CUSTOM I-V) - Pieter R. Stella
3:04 pm - The Devax AXXESS PLUS Bifurcation DES Clinical Trial Program Update (AXXESS PLUS, DIVERGE, and AXXENT) - Stefan Verheye
Other Sirolimus or Sirolimus Analogue- Eluting Stent Programs
3:22 pm - The JW EXCEL Bioabsorbable Polymer-Based Sirolimus-Eluting Stent Clinical Trial Program Update (CREATE Registry and Other Trials) - Yaling Han
11:29 am - Are Next Generation DES Associated with Restored Coronary Vasomotion? NOBORI - Miodrag C. Ostojic
Special Drug-Eluting Stent Summit Concurrent Session II
1:30 pm - The BIOFREEDOM Surface Etching Polymer-Free DES System: Design Concept and Experimental Studies - Renu Virmani
Evening Symposia
Improving Patient Outcomes with BA9/Biodegradable Polymer Technology Sponsored by Biosensors International and JW Medical Systems Grand Ballroom, Renaissance Washington, DC, Hotel
7:00 pm - Registration and Reception
8:00 pm - Introduction: The Role of Polymers in the DES Arena - Stephan Windecker
8:15 pm - Improved Healing by Utilizing Biodegradable vs Durable Polymers -Renu Virmani
8:35 pm - Clinical Trials for Exclusive Chinese-Made DES with Biodegradable Polymer-Yaling Han
8:50 pm - LEADERS: Taking the Lead in DES Clinical Excellence: Twelve-Month Results - Patrick W. Serruys
9:10 pm - Optical Coherence Technology: Differences Between Biodegradable and Durable Polymers: Insights from the LEADERS Trial Carlo Di Mario
9:30 pm - Take Home Message: How to Compare Data from the New Type of REAL WORLD Studies vs. Previous DES Studies? -Stephan Windecker
>Other interesting trials/results
2:08 pm - Future Cypher Sirolimus-Eluting Stent Platforms: Cypher Select Plus (ELITE) and Connor-Sirolimus (Introducing the RES-ELUTION Clinical Program) - Sidney A. Cohen
3:14 pm - The Cordis Conor-Sirolimus RES-ELUTION FIM Study: Trial Design and Preliminary Observations - Alexandre Abizaid
10:52 am - Does Late Catch-up Mean Late “Clinical” Restenosis? Reconciling the SPIRIT II and III Trial Results - Gregg W. Stone
in time like this, cash is king.... hold your cash and do some
homework .. cheers
bsiong, I meant besie RaffEdu which I have already.
Tks..bsiong. What wd you recommend? Still hv some hard cash for any good buys. Wd appreciate some leads, but won't blame u even if lose.
... mmm.. better switch counter.... RaffEdu ...
Against all recommendations, I bot some today at 44 cts. Will sell these lots if the price springs up today or before contra date. If not it will be for keeps for the longer term..
It could be not a nice gamble in the light of lousy market sentiments. But hands are itchy and thot this if treated as buying back your own stock sale, can also be an averaging action of past purchases....
Trouble is I bot when near to $1 but sold lower and now wants to buy back to lock up.
At 44cts it would nicely bring my average to about 70 cts which I think still comfortable
price for a longer term investment since some darn analysts give it a fair price of 1.02.
Any advice? Should stop and accept the loss or average to make back in the near future?
i personnel avoid tis baby,,,,,,,,,,,,,,tis time look like 41cts going to pppppppppppiiiiiiiiiiiiiiiiijjjjjjjjjjjjjjjiiiiiiiiiiiiiiiiiiiaaaaaaaaaaaaa
This counter should gets FDA approval for LC MARK R
Bro.ekekeg,
BIG not only LP,LS and CE MARK also CB MARK.
ekekeg ( Date: 26-Sep-2008 11:23) Posted:
Hi Xiaomage, LP counter alwys Lau Sai.
But BIG also same as all counters big or small, all LP and LS.
Something is wrong with our market, do you think so? It is always singing its tank tank tank tank tank song!!! |
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Hi Xiaomage, LP counter alwys Lau Sai.
But BIG also same as all counters big or small, all LP and LS.
Something is wrong with our market, do you think so? It is always singing its tank tank tank tank tank song!!!
This counter: LP@#$%&*XXXXX@@####$$$%%%&&&XXXXXXXXXX
ekekeg ( Date: 26-Sep-2008 10:03) Posted:
{quote}[quote]
In premarket trading, Boston Scientific shares rose 45 cents, or 3.5 percent, to $13.06.
[/quote]{/quote}
Hi Beng, I remember when I first bought Biosensors at ard 0.95 cents, the prices of Abbot Lab (ABT), and Boston (BSX) were doing ABT:$53.50 and BSX:$12.00. That was nearly a year ago.
Now Abbot is doing US$59.33 and Boston Sc closes last night at US$12.98, while Biosensor at SGD0.46.
Biosensors is dropping and losing money for its shareholders while Boston and Abbot are making a fortune despite the credit crunch and bank failures. I really cannot understand why with all the good news painted for BIG.
I am not blaming you for it, but can you now make a relistic forecast of where BIG will be heading?
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The fastest way is M&A or some MNC take up strategic stake. The market is not pricing Biosensors can make it in DES industry despite so many positive news. We are still very much a NTA / forward PE environment here. The key to become industry leader is best clinical data. I think BIG definitely can be the global DES market leader if BIG has the backing of an MNC. This is where a lot of unseen M&A value comes in. The market is pricing BIG remaining independent and a super small player in DES industry with uncertain future earnmings even though we know future royalty earning from NOBORI Japan market is going to be tens of millions a year and recurring. If an MNC can have the best clinical data, proprietary IPs and patents plus LEADER IN BIODEGRADABLE POLYMER AND TOTALLY POLYMERLESS DES, I it will be right on track to become the next DES global leader and dethrone Xience DES.
{quote}[quote]
In premarket trading, Boston Scientific shares rose 45 cents, or 3.5 percent, to $13.06.
[/quote]{/quote}
Hi Beng, I remember when I first bought Biosensors at ard 0.95 cents, the prices of Abbot Lab (ABT), and Boston (BSX) were doing ABT:$53.50 and BSX:$12.00. That was nearly a year ago.
Now Abbot is doing US$59.33 and Boston Sc closes last night at US$12.98, while Biosensor at SGD0.46.
Biosensors is dropping and losing money for its shareholders while Boston and Abbot are making a fortune despite the credit crunch and bank failures. I really cannot understand why with all the good news painted for BIG.
I am not blaming you for it, but can you now make a relistic forecast of where BIG will be heading?
Boston Scientific gets FDA approval for new stent
Thursday September 25, 8:31 am ET
Boston Scientific receives FDA approval for new, more versatile Taxus drug-coated stent
NATICK, Mass. (AP) -- Boston Scientific Corp. said Thursday the Food and Drug Administration approved the medical device maker's new Taxus drug-coated stent.
The approval comes as Boston Scientific and its stent competitors try to recover from a yearlong downturn in sales for the devices which are used to prop open clogged arteries. The drug-coatings are used to prevent the growth of scar tissue.
The Taxus Express2 stent is the only stent on the market approved for use in vessels as small as 2.25 millimeters, the company said.
In 2006, studies began to show that patients with the drug-coated stents were more likely to develop potentially fatal blood clots months and even years after they were implanted. Doctors have since become more cautious about using them instead of bare-metal stents and companies have in turn released studies trying to shore up the safety profile of drug-coated stents.
Boston Scientific said Taxus is so far the world's most frequently implanted stent, with 4.6 million used and the drug already has an extensive record clinical trial and long-term follow-up record. The company plans to launch the new stent immediately.
The stent is also approved to treat the recurrence of a narrowing artery in patients who have a bare-metal stent, the company said.
Taxus stents compete heavily with Johnson & Johnson's Cypher stent. Other competitors include Abbott Laboratories Inc.'s Xience V and Medtronic Inc.'s Endeavor drug-coated stents.
In premarket trading, Boston Scientific shares rose 45 cents, or 3.5 percent, to $13.06.
*** All these are just MNC marketing gimmicks to cater to certain groups of patients but i believe many other DESs can do it also (perhaps with even better results). If a stent is good, it is good for many patient groups, not just selected. BSX and JNJ has been doing a lot of such gimmicks lately to extend the product life cycle of their stents using first generation DES technology. Paclitaxel's late-loss is much higher compared to other powerful limus drugs like Biolimus, Everolimus and Sirolimus. It is dangerous to use Paclitaxel based DES to treat very small vessel like 2.25mm. The late loss is huge and that means chances of binary restenosis (reclogging) is very high. Change soup but no change of herbs. Any Ah Ter or Ah Kow DES can also beat Taxus Express and BSX can say until as if it is the most recognised and established DES around.
