ANS (Advanced Neuromodulation Systems) sells stake in now costly Cyberonics for large profit
This article was originally published in Clinica
Executive Summary
Advanced Neuromodulation Systems (ANS), the Dallas, Texas-based maker of implantable neural stimulation pain treatment devices, has offloaded all of the shares in rival neurostimulation firm Cyberonics that it acquired last summer. The company said the sale of the 3.5 million shares, which it purchased in August 2004 for $50m, generated a pretax profit of about $85.2m.
You may also be interested in...
CDER, CBER Not Seeing Hiring Slowdown Despite US FDA Warnings
FDA officials have said hiring could be slowed if an inflationary pay increase is not included in the agency budget, but CDER and CBER continue to add staff at a steady pace.
Medicare Reimbursement For Part B Drugs Is 48% Above 340B Prices To Hospitals, MedPAC Finds
New study updates past commission analyses and highlights the significant margin between Medicare payments for drugs and the prices paid by 340B-eligible providers.
Drug Shortages, Inspections In Focus At US FDA Appropriations Hearing
Commissioner Robert Califf discussed the agency’s request for $12.3m to address shortages and legislation to require that manufacturers provide more detailed information about increased demand and supply chain vulnerabilities.