Profits crashing for some med tech giants

Qmed has put together the 5 biggest drops in profit for med tech companies in 2014, and it's not looking good for device giants so far this year. Stryker's ($SYK) profit has plummeted by a whopping 77% over its metal-on-metal hip implant lawsuit costs, while Intuitive Surgical ($ISRG) follows next with a 76.6% drop in profit and the FDA crying foul over its power morcellators. Edwards Lifesciences' ($EW) profit is down by 53.1% because of its ongoing TAVR patent war with Medtronic ($MDT), which has brought Medtronic down by 53.8%. Finally, there's Abbott ($ABT), which has seen profits drop by 31.1%--analysts say it's because of the company's voluntary recall of baby formula in China. More

Suggested Articles

The Rady Children’s Institute for Genomic Medicine tapped Deloitte to help develop a network of flying drones to deliver genetic testing specimens.

The FDA approved a new, tiny pacemaker from Medtronic that does not require the wiring of separate electrodes between the implant and the heart.

The respiratory care company Vyaire Medical has brought on a new CEO, Gaurav Agarwal, following a year of new product launches.