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Home Industry News Covidien reports second quarter sales increase

Covidien reports second quarter sales increase

26th April 2011

Covidien has published its financial results for the second quarter of its 2010-11 fiscal year, during which it saw a double-digit rise in sales.

The firm's net sales total for the January to March period came to $2.55 billion (1.55 billion pounds), up by ten percent compared to the year-ago quarter, while medical device revenues grew by 16 percent.

Significant marketplace traction was observed for recently introduced products such as the LigaSure 5 laparoscopic instrument and Tri-Staple products, while major investments have been made in research and development.

Richard Meelia, chairman, president and chief executive officer of Covidien, expressed confidence that other new products, such as the LigaSure small jaw instrument and Pipeline Embolization Device, will help to stimulate further growth in the rest of the year.

"Our solid second-quarter results continued the strong performance we have delivered for the last several years," he added.

Last week, the firm announced the launch of a new remote control software application for ForceTriad, its surgical energy platform.ADNFCR-8000103-ID-800511575-ADNFCR

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