ADVFN - Advanced Financial Network.
HOME» NASDAQ » W » WMGI Stock Price » WMGI Stock News

Wright Medical Grp. Share News

 Wright Medical Grp. (mm) Stock Price
WMGI Stock Price
 Wright Medical Grp. (mm) Stock Chart
WMGI Stock Chart
 Wright Medical Grp. (mm) Stock News
WMGI Stock News
 Wright Medical Grp. (mm) Company Information
WMGI Company Information
 Wright Medical Grp. (mm) Stock Trades
WMGI Stock Trades

Wright Medical Finally Wins FDA OK For Hip Resurfacing

By Jon Kamp Of DOW JONES NEWSWIRES Wright Medical Group Inc. (WMGI) said Monday the Food and Drug Administration has finally approved the company's "Conserve Plus" system for bone-saving hip-resurfacing surgery, capping a protracted wait. Shares of the Arlington, Tenn., company rose on the news and were recently up 8.7% to $19.10. Analysts have long considered approval of the Conserve Plus system a potential positive catalyst for Wright's stock. The question for years, however, was when this would actually happen. The company filed for FDA approval in early 2004 and has been in regulatory limbo since then, with little explanation behind the reason for delay. Regulatory reviews are typically wrapped up much more quickly if there are no major issues. Wright said the FDA approved the original Conserve Plus system specified in the company's application. The company plans to incorporate enhancements that are now available outside the U.S. through an FDA pathway for application supplements. Wright said surgeon training for the system is expected to start immediately. Hip resurfacing is a repair procedure for worn out hips that preserves more bone atop the femur than traditional hip-replacement implants. Manufacturers and surgeons believe this is helpful for younger patients by keeping bone available for repeat surgery they may need down the road. While all major replacement-joint manufacturers have hip replacement systems outside the U.S., the U.S. market includes just two products from two U.K. firms, including Smith & Nephew PLC (SNN) and Corin Group PLC (CRG.LN). Smith & Nephew dominates in the U.S., where resurfacing has taken off more slowly than Wall Street expected. Smith & Nephew officials have said they expect more growth once competitors win FDA approval for their resurfacing systems, which means they'll be backing the technology rather than marketing against it. Stryker Corp. (SYK) markets the Corin resurfacing system in the U.S. Stryker, Zimmer Holdings Inc. (ZMH) and Johnson & Johnson (JNJ) are heavyweights in the $11 billion market for replacement hips and knees, where Wright is a small player. -By Jon Kamp, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

Stock News for Wright Medical Grp. (WMGI)
DateTimeHeadline
10/27/201419:50:26Wright Medical, Tornier to Combine in All-Stock Deal
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of -2-
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:12:59Fidelity Management & Research Co. 3Q 13F: Largest Eliminations
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: -2-
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: Largest Sales
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: Largest Purchases
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases -2-
08/09/201309:28:50U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
06/28/201208:04:54FDA Panel Discussing Safety of Metal-On-Metal Hip Implants
12/06/201111:03:08Applications Given Early Antitrust Clearance
03/11/201019:03:12Surgeons Warn Of Problems With Zimmer Knee Product
11/09/200911:32:03Wright Medical Finally Wins FDA OK For Hip Resurfacing

Wright Medical Grp. and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad