On Wednesday, St. Jude Medical CEO Dan Starks fielded a couple of questions related to its Durata ICD lead on its fourth-quarter earnings call, although there were none on a possible recall of the product, despite my expectations. The Durata ICD lead has been troubled by its association with a recalled, previous-generation ICD lead and […]
The shoe finally dropped. The U.S. Food and Drug Administration sent a warning letter to St. Jude Medical (NYSE:STJ) on Jan. 10 regarding its inadequate design validation process for the Durata ICD lead at the medical device firm’s Sylmar, California manufacturing plant. The warning letter was expected as the company’s CEO Dan Starks had already […]
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St. Jude Medical (NYSE:STJ) announced Thursday that its board has authorized a $1 billion share repurchase program. The move shows that the board believes that the company’s stock is undervalued, but is likely to sway few who have lately punished the stock over concerns about St. Jude’s Durata ICD lead. Between Oct. 1 and Nov. […]