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US-Based Merit Medical Systems Opens Office In Bengaluru
US based Merit Medical Systems, Inc., a leading manufacturer and marketer of
proprietary medical disposable devices used primarily in cardiology, radiology
and endoscopy, has kicked off operations in Bengaluru.
At the opening of the India subsidiary office, Joe Wright, president, Merit
Medical Systems, Inc. said that the key reason for our entry into the Indian
market now with direct presence is due to the large need that has been generated
for our products over the last 3-5 years. Physicians and hospitals have been
asking as to why Merit Medical not investing in India. Our product quality
worldwide has been highly respected at all times”.
“Over the next 5-10 years we have elaborate plans to invest in sales & marketing
initiatives and set up basic infrastructure for product assembly and
sterilization” he added.
“We we see India as a strategic place to be present. Even though we have been
selling our products through distributors here last 3-4 years, we feel our
presence is needed more now to be able to reach out to our direct target groups,
the doctors and hospitals” said. Ashwin Benegal, president; India & SAARC
region. We would like that more and more Indian doctors know of our products and
thus recommend the same”, he added.
“Bengaluru is India’s IT hub with multinationals stationed here that have big
R&D facilities. We look forward to working with them in the near future for our
products, that’s one of the reasons for choosing to base our India office in
Bengaluru, said Ashwin Benegal, president, India & SAARC countries.
Merit Medical Systems, Inc. is engaged in the development, manufacture and
distribution of proprietary medical disposable medical devices used in
interventional and diagnostic procedures, particularly in cardiology, radiology
and endoscopy. Its primary products consist of inflation devices used in
angioplasty and stent placement; diagnostic and therapeutic catheters used for
various procedures in cardiology and radiology.
http://www.pharmabiz.com/NewsDetails.aspx?aid=79960&sid=2
Johnson & Johnson Adjusted Net Earnings Up By 37% In Q4
Johnson & Johnson (J&J) has posted a net profit, after special items, of US$
3,519 million during the fourth quarter ended December 2013 from $2,567 million
in the corresponding period of last year, a growth of 37.1 per cent. However,
its profit before special items and tax declined by 11.3 per cent to $2,750
million from $3,100 million. The company's worldwide sales improved by 4.5 per
cent to $18,355 million from $17,558 million. Sales for the full year included
the acquisition of Synthes, Inc. which was completed in June 2012. Excluding
this impact, net of the divestiture of the DePuy trauma business, worldwide
operational sales growth was 5.2 per cent. During the quarter ended December
2013, its US sales sales increased by 7.4 per cent to $8,014 million from $7,400
million and international sales increased by 2.4 per cent to $10,341 million
from $10,098 million. Its sales in Europe moved up 7.9 per cent to $4,968
million from $4,603 million and that in Asia-Pacific, Africa region declined by
two per cent to $3,482 million from $3,554 million. Fourth-quarter 2013 net
earnings included after-tax special items of $42 million, primarily related to
an increase in the litigation accrual, an in-process research and development
charge, integration and transaction costs related to the acquisition of Synthes,
Inc., and programme costs associated with the DePuy ASR Hip, offset by a tax
benefit associated with Scios, Inc. Alex Gorsky, chairman and CEO said, “Johnson
& Johnson delivered strong results in 2013 led by the outstanding performance in
our pharmaceutical business, the strength of key brands in our US OTC and other
consumer businesses and continued progress in integrating Synthes into our
medical devices and diagnostics business. We also advanced our longer term
growth drivers, bringing innovative solutions to the global healthcare market
and executing with excellence. I am proud of our exceptional Johnson & Johnson
colleagues for their commitment to leading with purpose and advancing health and
well-being for patients and consumers around the world.” The Company announced
earnings guidance for full-year 2014 of $5.75 to $5.85 per share, which excludes
the impact of special items. For the full year ended December 2013, J&J's sales
increased by 6.1 per cent to $71.3 billion from $ 67.2 billion in the previous
year and its net profit moved up by 27.4 per cent to $13.8 billion from $10.9
billion. Earnings per share worked out to $4.81 as against $3.86 in the previous
year. Its US sales increased by seven per cent to $31.9 billion from $29.8
billion and its international sales moved up 5.4 per cent to $39.4 billion from
$37.4 billion. Its pharmaceutical sales increased by 10.9 per cent to $28,1
billion from $25.4 billion and sales of medical devices & diagnostics increased
by 3.9 per cent to $28.5 billion from $27.4 billion. Its sales from consumer
division increased marginally to $14.7 billion as against $14,4 billion.
Pharmaceutical sales in US increased by 12.3 per cent to $13.9 billion from
$12.4 billion and that in international market increased by 9.6 per cent to
$14.2 billion from $12.9 billion.
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