Gyrus shares dip as Johnson & Johnson cuts stock levels
This article was originally published in Clinica
Executive Summary
UK device company Gyrus saw its shares dip 13% last week after it announced that the Ethicon division of Johnson & Johnson, whose distribution of Gyrus' arthroscopy surgical device represents 90% of its turnover, would be holding less stock in future. However, Gyrus says that its discussions with another US healthcare company for distribution of its endourology device are at an advanced stage. The radio frequency ablation device can remove parts of an enlarged prostate in benign prostatic hyperplasia and has applications in bladder cancer.