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Guidant

This article was originally published in The Gray Sheet

Executive Summary

Implantable defibrillator Q4 sales growth of 30% to $396 mil. drives 8% corporate growth to $951 mil. for the quarter. Lower than expected U.S. uptake of competing drug-eluting stents limited a decrease in worldwide coronary stent sales to 17% ($202 mil.), the firm notes. Pacemaker sales edged ahead 1% to $171 mil. Net income of $204.9 mil. compares with $92.4 mil. in the same quarter last year. For the full year, revenues advanced 17% to $3.7 bil.; earnings of $426 mil. include $422 mil. in charges for stent patent litigation with Johnson & Johnson/Cordis. Separately, Guidant receives FDA market go-ahead for its Contak Renewal TR CRT-P cardiac resynchronization therapy pacemaker. The firm estimates a $300 mil. CRT-P market in 2004...
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