Covidien plc

Covidien Reports First-Quarter 2010 Results

Published in Surgery Litigation and Law Weekly, February 5th, 2010

Covidien plc (NYSE: COV) reported results for the first quarter of fiscal 2010 (October - December 2009). First-quarter net sales of $2.7 billion were up 7% from the $2.6 billion reported a year ago, with favorable foreign exchange of $121 million increasing the quarterly sales growth rate by approximately 5 percentage points.

Excluding $96 million in sales of oxycodone hydrochloride extended-release tablets (Oxy ER) in the first-quarter 2009, first-quarter 2010 net sales grew 11%, while operational growth (net sales growth, excluding the effect of foreign exchange) was 6%, driven primarily by higher volume and new products.

First-quarter 2010 gross...

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Source: Surgery Litigation and Law Weekly (2010-02-05)

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