Teva's US IUD Brings In $1.1bn For The Embattled Generics Firm
Teva’s planned divestment of non-core assets in order to refocus the company after a troubled first-half has started with a contraceptive device.
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CooperSurgical is hit with second letter for misleading promotion of its copper-containing intrauterine contraceptive. Video lacked any safety information, agency says in request for corrective communication.
‘Untitled’ letter is FDA's third in the past eighteen months to target promotions for women’s health products. In the case of advertisement for CooperSurgical's copper-containing intrauterine device, which is regulated as a drug, the agency took issue with distracting visuals and reliance on superimposed text.
Third-quarter device financing at $2.38 billion – almost half of that amount from CooperSurgical's $1.1 billion bridge loan – was double the Q2 total, while device acquisitions showed a steep decrease at $3.38 billion versus Q2's $33.4 billion. Diagnostics fundraising also was up in the third quarter, reaching $2.4 billion (a 133% increase over Q2) mostly from Thermo Fisher Scientific's $1.5 billion follow-on offering, which accounted for 63% of the total. In line with the previous quarter's $1.7 billion in M&A, Q3 diagnostics acquisitions had an aggregate value of $1.8 billion, led by Konica Minolta's $1 billion buy of Ambry Genetics.