How Well Did You Follow Medtech News In 2013?
2013 has been a pivotal year in the healthcare industry. January is when the medical device tax went into effect, whose repeal effort so far has proved a massive failure. The Sunshine Act, passed years ago, finally went into effect as well. The yar witnessed the disastrous debut of Obamacare with the federal health exchange faltering badly due to a slew of IT troubles. But did you go beyond the screaming headlines to find nuggets of equally newsworthy events in the medtech world? Take this 10-question quiz to find out?
- 1.
A U.S. medtech executive was held hostage by employees in a foreign location over a wage dispute. In which country did this occur?
- A.
Indonesia
- B.
China
- C.
Turkey
- D.
Israel
Correct Answer
B. ChinaExplanation
The correct answer is China because the question states that the medtech executive was held hostage by employees in a foreign location, and out of the given options, China is the only country mentioned that could be considered a foreign location for a U.S. medtech executive.Rate this question:
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- 2.
Two U.S. companies have been battling it out against each other for years to gain an edge in the structural heart market. This year, a European court temporarily forced one company to pull its product handing a brief victory to the other. Which are those companies
- A.
Edwards Lifesciences and St. Jude Medical
- B.
St. Jude Medical and Boston Scientific
- C.
Medtronic and Edwards Lifesciences
- D.
Medtronic and Boston Scientific
Correct Answer
C. Medtronic and Edwards LifesciencesExplanation
The question states that two U.S. companies have been competing in the structural heart market, and this year, a European court temporarily forced one company to withdraw its product, giving a temporary advantage to the other company. The correct answer is Medtronic and Edwards Lifesciences, as they are the only option that includes both of these companies.Rate this question:
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- 3.
Angelina Jolie shocked and amazed the world by publicly talking about her preventive double mastectomy after undergoing a genetic diagnostic test for breast cancer. Which company makes that test?
- A.
Abbott Labs
- B.
DiagnoCure
- C.
Siemens Healthcare Diagnostics
- D.
Myriad Genetics
Correct Answer
D. Myriad GeneticsExplanation
Myriad Genetics is the company that makes the genetic diagnostic test for breast cancer that Angelina Jolie underwent. This test is known as the BRCA gene test, which looks for mutations in the BRCA1 and BRCA2 genes that are associated with an increased risk of developing breast and ovarian cancer. By publicly discussing her experience with the test and her decision to undergo a preventive double mastectomy, Angelina Jolie brought attention to the importance of genetic testing and raised awareness about options for managing breast cancer risk.Rate this question:
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- 4.
Which multinational got caught in a bribery scandal in China?
- A.
Pfizer
- B.
Novartis
- C.
Merck
- D.
GlaxoSmithKline
Correct Answer
D. GlaxoSmithKlineExplanation
GlaxoSmithKline is the correct answer because they were indeed involved in a bribery scandal in China. In 2014, Chinese authorities accused GlaxoSmithKline of bribing doctors, hospitals, and government officials to increase sales and prices of their pharmaceutical products. The scandal resulted in a hefty fine of $490 million for the company and several employees being arrested and sentenced.Rate this question:
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- 5.
Last year, GSK made history by agreeing to pay the Department of Justice $3 billion to settle healthcare fraud charges. This year Johnson & Johnson had its own billion-dollar settlement. How large was it?
- A.
$2.2 billion
- B.
$1.8 billion
- C.
$2.7 billion
- D.
$2.4 billion
Correct Answer
A. $2.2 billionExplanation
Johnson & Johnson's billion-dollar settlement was $2.2 billion.Rate this question:
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- 6.
What company received FDA approval for the world’s first bionic eye in 2013? Hint: It was also named MD+DI’s Medical Device Manufacturer of the Year.
- A.
Olympus
- B.
Bausch & Lomb
- C.
Second Sight Medical Products
- D.
Advanced Bionics
Correct Answer
C. Second Sight Medical ProductsExplanation
Second Sight Medical Products received FDA approval for the world's first bionic eye in 2013. This company was also named MD+DI's Medical Device Manufacturer of the Year.Rate this question:
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- 7.
Which of these transactions represents the largest medtech M&A in 2013?
- A.
Thermo Fisher Scientific’s purchase of Life science Technologies Corp., a leading producer of biotech and genetic testing equipment
- B.
Medtronic’s purchase of remote patient monitoring firm Cardiocom
- C.
St. Jude’s acquisition of Nanostim, developer of the first commercially available leadless pacemaker
- D.
Stryker's purchase of MAKO Surgical, a maker of robotically-assisted surgical products
Correct Answer
A. Thermo Fisher Scientific’s purchase of Life science Technologies Corp., a leading producer of biotech and genetic testing equipmentExplanation
Thermo Fisher Scientific's purchase of Life Science Technologies Corp. represents the largest medtech M&A in 2013 because it involves the acquisition of a leading producer of biotech and genetic testing equipment. This suggests a significant investment and consolidation of resources in the field of medical technology, making it the most substantial transaction among the options provided.Rate this question:
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- 8.
Which of these mobile health companies broke crowdfunding records on the Indiegogo crowdfunding site by raising $1.6 million from scores of small donors online?
- A.
AliveCor, which makes a iPhone ECG device and app
- B.
Audax Health, which is building a gaming/rewards platform to help people make healthy choices
- C.
FitBit, which makes sensors to track physical activity
- D.
Scanadu, which is using mobile and sensor technology to make the world's first medical tricorder
Correct Answer
D. Scanadu, which is using mobile and sensor technology to make the world's first medical tricorderExplanation
Scanadu broke crowdfunding records on Indiegogo by raising $1.6 million from small online donors. They are using mobile and sensor technology to develop the world's first medical tricorder.Rate this question:
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- 9.
Under FDA's final guidance on mobile medical apps, which of the following would be regulated as a device
- A.
MyFitnessPal calorie counter and diet tracker
- B.
Glooko logbook for diabetes patients
- C.
AliveCor, which makes a iPhone ECG device and app
- D.
DrawMD series of apps that allow surgeons to draw surgical procedures for patients
Correct Answer
C. AliveCor, which makes a iPhone ECG device and appExplanation
AliveCor, which makes an iPhone ECG device and app, would be regulated as a device because it is used for medical purposes and falls under the definition of a mobile medical app according to FDA's final guidance. The app is designed to monitor and record electrocardiogram (ECG) data, which is a medical diagnostic tool used to detect and monitor heart conditions. Therefore, it meets the criteria for regulation as a medical device under FDA guidelines.Rate this question:
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- 10.
Which company got slapped on the wrist by the FDA for marketing a genetic test without a proper regulatory clearance?
- A.
23andMe
- B.
Myriad Genetics
- C.
I-Gene
- D.
Proteus Biomedical
Correct Answer
A. 23andMeExplanation
23andMe is the correct answer because they were reprimanded by the FDA for promoting and selling a genetic test without obtaining the necessary regulatory clearance. The FDA expressed concerns about the accuracy and reliability of the test results, as well as the potential for the test to provide false positives or negatives for certain health conditions. As a result, 23andMe was instructed to stop marketing the test until they could provide sufficient evidence of its effectiveness and safety.Rate this question:
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