Glaukos Takes Another Hit From CMS; Investors Respond Negatively As Stock Falls
The US Medicare agency's new rule for facility fees brings more bad news for Glaukos; Wells Fargo downgrades company’s stock in response.
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The US Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that includes new reimbursement levels for multiple medical devices, including the Glaukos iStent.
After much wrangling, the US agency finally clarified its position on what evidence can determine “intended use” of a product – and industry is not happy.
Fees for filing a premarket application with the US FDA increased 2.5% for fiscal year 2022, which is significantly less than the 7% they went up last year.