Carmat shares slump after French drugs agency suspends its heart implants

Shares in artificial heart maker Carmat slumped on Thursday after France’s national drugs agency ordered it to suspend further implants following the death of a patient in October. Carmat shares were down by 18.5 percent at 27.50 euros in morning trading, with around 40 million euros ($42.5 million) wiped off its stock market value. Carmat Chief Executive Stephane Piat said in a statement on Wednesday that the artificial heart was not involved in the patient’s death, and that the company’s last three implantations had functioned normally.

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Carmat shares slump after French drugs agency suspends its heart implants