St. Jude Medical’s Q4, 2009 sales and earnings rise

January 27, 2010 By MassDevice staff Leave a Comment

Plans to pare costs paid off for St. Jude Medical Inc. (NYSE:STJ) during the fourth quarter and full year, as a restructuring program returned the St. Paul, Minn.-based medical device maker to the black for Q4.

St. Jude posted $1.2 billion in fourth-quarter sales, up 6.3 percent compared with $1.13 billion during the same period in 2008. Net earnings for the three months ended Jan. 2 were $189.7 million, or 57 cents per diluted share, compared with a net loss of $201.2 million, or 58 cents per diluted share, during Q3 2008.

Full-year sales for STJ topped $4.68 billion, a 7.3 percent increase over $4.36 billion during 2008. Net earnings for 2009 were $777.2 million ($2.26 per diluted share), compared with $353 million ($1.01 per diluted share) during the prior year.

Can Miromatrix “regenerate” Minnesota’s medical industry?

January 22, 2010 By MedCity News Leave a Comment

By Thomas Lee

MINNEAPOLIS, Minnesota– Miromatrix Inc. has one official employee, zero money, and nothing yet to develop, never mind sell. But make no mistake: Everyone wants a piece of it.

St. Jude Medical wins Japanese approval for spinal cord stimulation system

January 18, 2010 By MedCity News Leave a Comment

By Brandon Glenn

St. Paul, Minnesota —St. Jude Medical Inc. (NYSE:STJ) won Japanese regulatory approval to begin selling a spinal-cord stimulation system for patients suffering from chronic pain.

Supremes rebuff Boston Scientific appeal

January 12, 2010 By MassDevice staff Leave a Comment

The U.S Supreme Court dashed Boston Scientific Corp.’s (NYSE:BSX) hopes of collecting damages from St. Jude Medical (NYSE:STJ) in a long-running patent infringement battle over pacemaker technology.

The Supremes declined to hear Boston Scientific’s appeal in the 14-year-old case, meaning a lower court’s decision barring BSX from collecting the damages will stand.