Recalls dent Stryker Q1 earnings

Share this article:

Recalls helped sink first-quarter numbers for medical device maker Stryker. Modern Healthcare reports that the company saw earnings fall 77% for the quarter ended March 30 compared to the same period last year.

Sales, however, rose to $2.31 billion, a 5% bump compared to the same period a year ago.

As Modern Healthcare reports, $344 million in charges related to recalls of Rejuvenate and ABG II modular-neck hip stems inflicted the the 77% earnings dent. Sales rose in the company's core categories: reconstructive, medical-surgical and neurotechnology, and spine.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Business Briefs

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Genentech shift could prove costly for hospitals

Genentech will use specialty distributors rather than wholesalers, hospitals pharmacy directors have learned.

Novartis said to be stepping out of HCV

Novartis is said to have relinquished rights to an investigational hep. C treatment, signaling its exit from the therapeutic space, according to a former partner's announcement.

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies