Medical technology company Stryker Corp (SYK.N) on Tuesday reported fourth-quarter profit slightly above analysts’ expectations on higher sales across its product lines.
The maker of artificial knee and hip implants, surgical instruments and other hospital products also announced the promotion of Glenn Boehnlein to chief financial officer, replacing William Jellison, who is retiring.
Net profit in the fourth quarter rose to $522 million, or $1.38 per share, from $260 million, or 67 cents per share, in the ear-ago period.
Excluding one-time items, Stryker said it earned $1.56 per share. Analysts on average had expected $1.55 per share, according to Thomson Reuters I/B/E/S.
Stryker previously announced fourth-quarter revenue of $2.7 billion, up 3.7 percent from a year ago.
The Kalamazoo, Mich.-based company forecast 2016 earnings in a range of $5.50 to $5.70 per share. Analysts on average were expecting $5.59 per share.
(Reporting by Susan Kelly in Chicago; Editing by Bernard Orr)
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
