Advertisement
News
Advertisement

Covidien updates on pharma spinout

Tue, 11/27/2012 - 2:02pm
Mass Device

Covidien updates investors on the planned spinout of its pharmaceuticals business, expected by mid-2013.

Covidien

With strong fiscal 2012 numbers under its belt, Covidien (NYSE:COV) updated investors today on its expected financials after it spins out its pharmaceuticals business next year.

The Mansfield, Mass.-based medical device company said late last year that it planned to ditch the no-or-low-growth pharma unit, which will become a stand-alone operation.

When it announced the deal in December 2011, Covidien forecast adjusted growth margins of 60.0% for the "New Covidien." That figure is now expected to be 60.4%, according to a regulatory filing, up 40 basis points.

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading