St Jude swings axe with reorganisation; savings should help ease device tax pressures
This article was originally published in Clinica
St Jude Medical is cutting around 300 jobs as part of its plan to reorganise its business into two operating units in a bid to spur growth. The restructuring will enable the firm to shave off $50-60m a year from its pre-tax operating expenses, starting 2013 when the tax on US medical device sales comes into effect.
You may also be interested in...
Minimally invasive glaucoma surgery specialist Glaukos saw its stock leap 40% in the wake of a worldwide recall by much bigger rival Alcon of its CyPass microstent.
Roland Diggelmann will end his decade-long career at Roche Diagnostics at the end of September. The business's head of EMEA Michael Heuer will take Diggelmann's place while the search is on for his replacement.
Philips has added a new pulse oximetry platform to its patient monitoring portfolio, with the acquisition of Xhale Assurance.