St. Jude Medical gets tangled in its own rope over Riata

April 13, 2012 by MassDevice staff

St. Jude Medical's pugilistic response to a study linking its recalled Riata defibrillator leads with 22 deaths is proving to be counter-productive, as doctors and investors shy away from its next-generation Durata lead.

Riata

The medical device world was abuzz this week as St. Jude Medical (NYSE:STJ) came out swinging against critics of its recalled Riata defibrillator lead.

The St. Paul, Minn.-based company's vociferous response reportedly has doctors and investors backing away from St. Jude, according to Reuters, and has taken some 13.4% from STJ's shares since late March.

The affair began last September with a small Irish study reporting that revision surgeries for the Riata lead were higher than previously reported. A month later, CEO Daniel Starks took to the airwaves to inveigh against arch-rival Medtronic (NYSE:MDT) and its alleged attempts to prejudice the market against St. Jude.

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