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Covidien's strong Q2 builds on good start to 2012; acquires hernia device firm

This article was originally published in Clinica

Executive Summary

Covidien's good start to 2012 has continued into its second fiscal quarter, as the firm reported group revenues of $2.95bn for that period, up 5% year-on-year. Medical devices, the firm's biggest division, saw sales growth of 7% to $2.0bn during Q1, again outperforming Covidien's soon-to-be-spun-out pharmaceuticals (+4% to $508m) and medical supplies divisions (flat at $434m).

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