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Showing results for DePuy Synthes Sales Inc
...Before Alere, Mr Nawana spent more than 15 years at Johnson & Johnson, including time as president of its DePuy Synthes spine business....
...DePuy Synthes was created following Johnson & Johnson’s $21.3bn takeover of Switzerland’s Synthes in 2012. The UK’s Smith & Nephew has mulled buying smaller rival NuVasive....
...It has not done a big deal since it bought Synthes in 2012. And mountains of debt could be added to get a deal done. The company has a rare AAA credit rating....
...Pharmaceutical sales were up 10 per cent to $6.8bn, and medical devices and diagnostics up 10 per cent to $7.1bn, much the result of its acquisition of Synthes....
...Johnson & Johnson, the world’s largest healthcare company, started to see the benefits of last year’s acquisition of Synthes, as growing medical device sales boosted its third-quarter revenues....
...In the second quarter, J&J was hit by costs related to the closing of its deal last year to acquire Synthes, the medical device company....
...The company is also facing an onslaught of lawsuits related to faulty hip implants produced by its DePuy unit....
...Johnson & Johnson shares rose 1.3 per cent to $69.55 after the world’s largest healthcare company reported solid growth in revenues, due to sales from its medical device unit Synthes....
...S&P Capital IQ reiterated its “buy” rating for Johnson & Johnson, saying that the company’s acquisition of medical device producer Synthes had been given regulatory approval....
...DePuy, the division of J&J that Synthes would potentially join, made revenues of $5.6bn but supposedly lower profitability....
...Consolidation is intensifying, including Johnson & Johnson’s recent $21bn purchase of Synthes of Switzerland....
...William Weldon, head of J&J, says ringingly of the accord: “DePuy and Synthes together will create the most innovative and comprehensive orthopaedics business in the world, and enable us to better serve...
...J&J booked $271m of charges related to its DePuy ASR, a hip replacement which had to be recalled....
...But Synthes has proved to be highly profitable, and last year group sales rose 8.6 per cent to $3.69bn while net profits increased nearly 25 per cent to $908m....
...It lost nearly $1bn in sales last year due to various product recalls and has been on the prowl since failing to consummate a big deal for British device manufacturer Smith & Nephew....
...The sale also marks an exit for Hansjörg Wyss, the Swiss entrepreneur who created Synthes and expanded it through acquisitions....
...The group, which runs its business largely out of the US, was responding to speculation late last week that it was in negotiations on a sale that could value Synthes at up to $20bn....
...The press release: In response to market speculation, Synthes, Inc....
...The Japanese earthquake cost $3m of sales and profits as a result of stock damage....
...sales in 2010....
...- ARM Holdings expects 20011 sales will be at least in line with current market expectations — statement....
...The investment may offset improved sales and cost control efforts when S&N delivers quarterly results on May 5, it said....
...Group pensions, which account for three-quarters of Resolution’s UK sales, remained only marginally profitable, while margins for annuities had slipped in the second half, UBS said....
...We may also see Smith & Nephew seeking out a white knight approach from Biomet / Synthes or possibly private equity, but it is hard to see how any of these could outbid J&J....
...RBC, which also upgraded the stock to “buy”, said management had been upbeat on aerospace sales in 2011 and reassuring about auto driveline demand....
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