Medtronic to buy Covidien

Medtronic, a global medical device maker, has announced plans to buy Covidien for $42.9 billion.

Covidien PLC acquires Given Imaging for $860M

Covidien has announced it will buy Given Imaging for $30 per share in cash, for a total of approximately $860 million.

Covidien targets wound care product shortage

Covidien targets wound care product shortage

Covidien will make more of its cotton-based wound care products at its Augusta, GA, locating. The move is part of an effort to prevent possible supply shortages.

Covidien to spin off pharmaceuticals unit

Covidien plans to spin off its pharmaceuticals division into a separate company. The independent division can better compete in the growing pain-management area, the company announced. The drugs division generates more than $2 billion in sales each year. Among its products are Exalgo, a 24- hour extended release opioid, and Pennsaid, a topical anti-inflammatory medication. The company's medical products business has annual sales of about $9.6 billion, according to the firm.