Medtronic
This article was originally published in The Gray Sheet
Executive Summary
Fiscal year 1999 first quarter sales and earnings will be below company and analyst estimates, the company reports Aug. 6. Stock in Medtronic fell 5-3/4 (9.5%) points on Aug. 6 to close at 53-1/2. Complete results for the three months ended July 31 will be reported Aug. 18. The firm attributes the lower-than-anticipated results to the absence of the Kappa 700 pacemaker system and the Gem DR defibrillator system on the U.S. market, where tachyarrhythmia management sales declined 5%. Separately, a registration statement filed with the Securities & Exchange Commission covers a 12.5 mil. share offering in connection with the company's planned acquisition of Physio-Control in a pooling-of-interests transaction valued at $538 mil. ("The Gray Sheet" July 6, p. 3). Based on current stock prices, the offering would raise about $750 mil
You may also be interested in...
QUOTED. 4 December. Eric Borin.
Becton Dickinson will spend $1.2bn over the next four years to improve its drug-delivery device manufacturing capabilities. See what Eric Borin, president of BD, said about it here.
Pfizer’s Expected 2020 COVID-19 Vaccine Production Fell By 50% After Scaleup Delays
Pfizer is producing vaccine doses at scale now that it has buttoned down the manufacturing process.
Azurity’s Xatmep Promotional Email To Healthcare Professionals Gets Dinged By US FDA
In second letter this year targeting email communications, OPDP says that putting the methotrexate oral solution’s risk information below the signature block does not offer ‘prominence and readability’ comparable to the information on the drug’s effectiveness for the treatment of acute lymphoblastic leukemia that was in the body of the email.
Need a specific report? 1000+ reports available
Buy Reports
Register for our free email digests: