Company: St. Jude Medical ($STJ)
Headquarters: St. Paul, MN
Med Tech R&D budget 2012: $676 million
The bottom line: St. Jude's R&D spending represents a big drop from $705 million in 2011, but is still a bit higher than the $631 million it spent on research and development efforts in 2010. And yet the number remains just over 12% of the company's sales. So what that means is that as the company's sales have struggled and declined, R&D spending has also slid. Like its rivals, however, the company is relying on R&D efforts to develop not only next-generation stents, but also next-generation stent imaging technology, a heart plug to treat strokes, renal denervation treatments and an MRI-friendly pacemaker. We'll see if those R&D focuses help return St. Jude to steady revenue increases down the line.
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