MiMedx shares falls by 20%

May 10, 2018  Source: drugdu 169

The US-Based MiMedx group's (a manufacturer of regenerative medicine) shares fell 20% after the federal prosecutors charged three healthcare professional for accepting bribes from Mimedx. Of these shares, 7.5% recovered when closing for the day.

It’s been reported that federal prosecutors accused MiMedx of bribing healthcare workers of the Veterans Affairs Department to promote the use of the company's products. The alleged bribes included direct payments, meals, trips and speaking fees.

Neither MiMedx nor any of the company's workers have been directly charged. However, given all of the drama currently going on with the company, it is understandable why traders are shooting first and asking questions later.

This news only makes a bad situation worse say experts, advising people to steer clear of this troubled company and focus their attention on more promising opportunities.

 MiMedx Group develops, manufacture and market patent-protected regenerative biomaterial products and bioimplants processed from human amniotic membrane.

By Ddu