Manufacturing


The U.S. Supreme Court

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The U.S. Supreme Court ruled that the manufacturer of a medical device approved by the United States cannot be sued under state law if the device causes an injury. The court ruled 8-1 in favor of Medtronic Inc. Riegel and his wife, Donna, sued the company in U.S. court, contending that the catheter had been designed, labeled and manufactured in a way that violated state law, and that those defects had caused severe and permanent injuries to Riegel. But a U.S. District Court and the 2nd U.S.

The Ohio Supreme Court

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The Ohio Supreme Court issued a monumental decision upholding the statutory limitations on noneconomic and punitive damages enacted in Amended Substitute Senate Bill 80 N1 in Arbino v. Johnson & Johnson, Slip Op. No. 2007-Ohio-6948. Senate Bill 80, effective April 7, 2005, provides comprehensive tort reform legislation aimed at restoring fairness and balance to Ohio's civil justice system and financial vitality to Ohio's economy. The Arbino Court recognized that tort reform has been an ongoing topic of debate.

Akorn Inc. and Serum Institute of India Ltd. announced the signing of an Exclusive Memorandum of Understanding (MOU)

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Akorn Inc. and Serum Institute of India Ltd. announced the signing of an Exclusive Memorandum of Understanding (MOU) with an intent to commercialize six vaccines for the U.S. market. The four vaccine products are: Measles, Mumps and Rubella Vaccine (MMR), Human Diploid Rabies Vaccine, Recombinant Hepatitis B Vaccine, Oncology Bladder Cancer Vaccine (BCG).

AcuNetx, Inc.

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AcuNetx, Inc. announced that its HawkEye(TM) and IntelliPlate systems have been used by the highly regarded research center, The Southern California Research Institute in a study intended to establish the basis for framing a national standard for testing boaters suspected of being 'Under the Influence.' SCRI is the entity that validated the Standardized Field Sobriety Test used on roadways all over the country. The project is funded by the United States Coast Guard.

InnerWireless, Inc. announced strategic partnerships with Cisco Systems, Inc., Hospira Inc.and PatientKeeper, Inc.

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InnerWireless, Inc. announced strategic partnerships with Cisco Systems, Inc., Hospira Inc.and PatientKeeper, Inc. to create leading-edge solutions that give caregivers everywhere, everytime access to the clinical applications they need. With InnerWireless, physicians, nurses and patients can communicate and access data wirelessly from anywhere inside the hospital, including at the point of care.

InSilica, Inc.

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InSilica, Inc. announced that it has received $6 million in second round of funding on February 19, 2008. The round saw participation from existing investors Flextronics International Ltd., Crossbow Ventures Inc., and Intel Capital.
 

OccuLogix Inc.

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OccuLogix Inc. announced that it has secured a bridge loan in an aggregate principal amount of $3,000,000 from a number of private parties. The loan bears interest at a rate of 12% per annum and will have a 180-day term, which may be extended to 270 days under certain circumstances. The repayment of the loan is secured by a pledge by the Company of its 50.1% ownership interest in OcuSense Inc. OcuSense Inc.

Insite Vision Inc

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Insite Vision Inc. announced that it has closed a private placement to institutional investors of $60 million in aggregate principal amount of non-convertible, non-recourse promissory notes. The notes are secured by royalties to be paid from sales in the United States and Canada of AzaSite(R) (azithromycin ophthalmic solution) 1%, a drug licensed to and sold by Inspire Pharmaceuticals for the topical treatment of bacterial conjunctivitis (pink eye).

HLTH Corporation

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HLTH Corporation reported earnings results for fourth quarter and full year ended December 31, 2007. For the quarter, the company reported net income of $43,069,000 or $0.20 per diluted share on total revenues of $145,815,000 compared to net income of $353,774,000 or $1.16 per diluted share on total revenues of $228,863,000 for the same period a year ago.

ev3, Inc.

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ev3, Inc. reported earnings results for the fourth quarter and year ended December 31, 2007. For the quarter, the company reported net loss of $107,867,000 or $1.06 per basic and diluted share on net sales of $92,228,000 compared to net loss of $4,580,000 or $0.08 per basic and diluted share on net sales of $57,675,000 for the same period a year ago. Net sales increased 60%.
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