St Jude Medical sees strong sales growth in Q2 2016

St Jude Medical has announced its financial results for the second quarter of 2016, during which it achieved a net sales total of $1.56 billion (1.18 billion pounds).

This represents an 11 percent year-on-year increase in reported terms, or a two percent rise on a comparable constant currency basis. Its neuromodulation and atrial fibrillation business units experienced particularly strong growth.

Key product lines that helped drive this positive momentum included the TactiCath and FlexAbility ablation catheter, the St Jude Medical Burst technology and the Portico transcatheter aortic valve implantation system.

One of the most notable highlights of the quarter was the agreement of St Jude Medical's forthcoming merger with Abbott, a deal that will greatly expand the scope of the business.

Due to the planned merger, St Jude Medical is withdrawing its financial guidance for the full-year period.

Michael Rousseau, St Jude Medical's president and chief executive officer, said: "We continue to be confident and excited about the potential of our combined organisation and the powerful impact we can have on delivering industry leading innovation to physicians and patients around the world."