St Jude Medical’s second quarter marked by double-digit growth

St Jude Medical has published a financial report detailing its strong performance in the second quarter of 2010, with net sales increasing by 11 per cent year-on-year.

The medical device company’s net sales total for the quarter increased to $1.3 billion (840.9 million pounds), with its cardiac rhythm management, atrial fibrillation and neuromodulation units recording double-digit growth.

Cardiovascular sales also saw an increase, expanding by five per cent from Q2 2009 to $254 million.

St Jude Medical’s chairman, president and chief executive officer Daniel Starks pointed to several new product launches and the recent acquisition of LightLab as further evidence of its progress in the last quarter.

He said: “Our second quarter was highly successful by every major measure – [the] results and trends support raising our adjusted earnings per share guidance for the second quarter in a row.”

Last month, St Jude Medical agreed a new supply deal with Kensey Nash for collagen plugs, which will be used in the development of the Angio-Seal vascular closure device.