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 milYou may also be interested in...
Sanofi Bets Big On IO With Synthorx Buy
The French drugmaker is paying $2.5bn to get hold of THOR-707 which it claims has the potential to become the best-in-class IL-2 therapeutic for solid tumors, thanks to improved pharmacology and less frequent dosing.
Global Industry Hails Bioequivalence Progress
For the first time, a working group within the International Council for Harmonization has started work on a regulatory topic specifically tailored to the global generics and biosimilars industry.
Generics Leaders Trade Places At The Top
In 2019, Mylan moved up to become the world’s leading generics, biosimilars and OTC player, according to Informa Pharma Intelligence’s latest global rankings. Sandoz has surpassed troubled Teva into second place but is set to surrender that position following the sale of its US solid-dose and dermatology business to India’s Aurobindo.
Need a specific report? 1000+ reports available
Buy Reports
Register for our free email digests: