No let-up is seen for St Jude Medical’s (NYSE:STJ) difficulties with the wires of its Riata implantable defibrillator, which was recalled late in 2011, according to a new report. In a figure that might be understated, it’s observed that the silicone coating around the wire lead eroded at an estimated rate of 3 percent.
Johnson and Johnson’s (NYSE:JNJ) new CEO Alex Gorsky wants to reinforce the firm’s medical device division with takeovers, he said in an interview with Bloomberg, commenting that “We remain committed to cardiovascular, even though sales have fallen 44 percent since 2006. The analysts’ shopping list for J&J include Edwards Lifesciences (NYSE:EW) and St. Jude Medical (NYSE:STJ).
Warner Chilcott’s (NASDAQ:WCRX) statement that it is ‘reviewing its strategic alternatives, gets a rap from Bank of America: “While it is difficult to predict the potential outcome of the strategic review, the process is consistent with our view that building shareholder value is a priority for the company.”. On the other hand, BofA comments that cutting costs could generate a sale scenario, and also drive the shares DCF value higher.
Shares of Medidata Solutions (NASDAQ:MDSO) jujmp following its first quarter report that handily beat consensus. Revenue rose 23 percent year-to-year, based upon the company’s cloud-focused professional-services business. Moreover, MDSO raises its fiscal year 2012 guidance, which is now projected to earn between a range of $213 million and $217 million.
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