Hints and tips:
...Medical technology group Smith & Nephew has appointed Jo Hallas, chief of construction supplier Tyman, as a non-executive director....
...Bookrunners such as BAML, Goldman and UBS may seek to price ConvaTec closer to Denmark’s Coloplast than Smith & Nephew of the UK....
...Shareholders revolted over pay at WPP, Smith & Nephew, Standard Life and BP, where CEO Bob Dudley was given a 20 per cent pay rise to £14m following a year when the oil major made its worst ever annual loss...
...Break-up speculation lifted Smith & Nephew on Friday....
...Even so, the loss of the third-biggest UK-listed drugmaker after AstraZeneca and GlaxoSmithKline is likely to increase the sense of siege surrounding FTSE 100 healthcare companies, with Smith & Nephew, the...
...Smith & Nephew’s strategy to cut $150m from its cost base will result in the loss of almost 800 jobs, as the medical device group moves to relieve pressure on margins....
...For his company, medical devices maker Smith & Nephew, that is probably the correct decision....
...UK-based Smith & Nephew also outlined plans to merge its orthopaedics and endoscopy units into a new advanced surgical devices division....
...The new chief executive of Smith & Nephew brushed off suggestions that the company needed a bigger partner as he pledged to lay out a new strategy by early August for the UK-based medical device company....
...Fast growth in endoscopy and advanced wound management offset sluggish expansion in orthopaedics, Smith & Nephew’s biggest product line....
...An indicative offer valuing Smith & Nephew (S&N), one of the world’s largest orthopaedics-makers, at more than 750p-a-share was tabled with the company several weeks before Christmas, I’m told....
...The latter was helped by the increased adoption of Smith & Nephew’s negative pressure wound therapy device, which places a vacuum over an open wound to accelerate healing....
...“We believe that Smith & Nephew’s 10 per cent discount to global orthopaedic peers is unwarranted in light of a similar growth outlook,” it said....
...Strong growth in its endoscopy and woundcare businesses have boosted earnings and margins at Smith & Nephew, although the medical device company said that the market for some of its advanced hip and knee...
...● FT CommentInvestor enthusiasm for Smith & Nephew was fuelled by a better-than-expected performance in the endoscopy division and continued margin improvement....
...Shares in Smith & Nephew were 0.9 per cent, or 5p, lower at 535p in mid-morning trade....
...“The demographics are still there,” said David Illingworth, Smith & Nephew chief executive....
...Other overseas earners found support, with Smith & Nephew gaining 3.9 per cent to 464½p in spite of a profit warning from Conmed, a US competitor to S&N’s endoscopy business....
...Smith & Nephew, Europe’s largest medical devices company, lifted full-year sales more than 20 per cent, slightly outperforming analysts’ expectations, on the back of growing demand for its orthopaedic products...
...Shares in Smith & Nephew, the UK artificial hip and knee maker, fell 11 per cent on Thursday after it reported lower-than-expected second quarter profits....
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