Medtronic Net Up on Higher ICD Sales
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Medtronic Inc. (MDT.N) on Wednesday said its quarterly earnings rose on surprisingly brisk demand for devices that slow racing heartbeats, offsetting a weaker-than-expected performance in some of its other businesses.
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Medtronic Inc.  reported higher quarterly profit on Tuesday as demand for its spine, vascular and neurology products offset weak sales of its implantable devices to shock racing hearts back to normal rhythm.
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Biogen Idec Inc.  said on  Thursday that fourth-quarter earnings rose on higher sales of  its cancer and multiple sclerosis drugs.
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Health insurer posted a rise in quarterly net profit as  increased membership boosted revenue.
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Circuit City Stores, the electronics chain, said yesterday that second-quarter sales rose 8.8 percent, as the acquisition of Canada&#39;s InterTan helped the company record its biggest revenue gain in two years.
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A proposal by Medicare and Medicaid to expand coverage for implantable defibrillators boosted Guidant Corp.&#39;s stock price by 5 percent Wednesday as investors bet that the move would increase the company&#39;s sales.
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Eli Lilly and Co  on Tuesday said fourth-quarter profit rose on higher-than-expected sales of its medicines, including strong demand for its newer treatments for depression, diabetes and cancer.
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Abbott Laboratories Inc. ABT.N on  Thursday posted higher third-quarter profit, helped by surging  demand for its new arthritis drug and rising sales of medical  devices.
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The No. 3 cardiology company posts solid growth because of continuing ICD market share gains.
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Fourth-quarter profit increased 4 percent as growing medical enrollment lifted revenue from health care premiums.
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Medco Health Solutions Inc. , one of the largest U.S. managers of drug benefits, said on Wednesday that profit rose 29 percent, as higher rates of mail-delivered generic drugs drove better profit margins, and it lifted its full-year earnings forecast.
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The personal computer maker reported solid sales growth for the second quarter.
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Medicare has agreed to expand coverage by one-third for implantable cardiac defibrillators (ICDs) -- devices used to steady hearts that beat irregularly -- to 500,000 patients, the Minneapolis Star Tribune reports.
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Tyco Electronics Ltd , a maker of connectors and other components used in cars, airplanes and industry, reported a higher quarterly profit on Wednesday, boosted by a tax benefit and strong demand from telecommunications customers.
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Worldwide semiconductor sales rose 9.2 percent in January, boosted by better-than-expected cell phone shipments and strong sales of personal computers, digital cameras and music players, an industry group said on Monday.
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Circuit CityÂs profit rose more than sevenfold, benefiting from increased sales in flat-panel TVÂs and digital-imaging products.
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Pharmaceutical maker Abbott Laboratories said its profit growth was driven by strong sales of migraine and Crohnâs disease treatments.