St. Jude Medical cops to Durata plant problems
St. Jude Medical admits to quality control problems at the plant that makes its Durata defibrillator leads in a letter to the FDA reviewed by the Wall Street Journal and says it's putting procedures in place to remedy the issues.
St. Jude Medical (NYSE:STJ) copped to quality control problems at the Sylmar, Calif., plant that makes its next-generation Durata defibrillator leads, saying it's put measures in place to remedy the issues.
STJ shares plunged late last year after it said the federal watchdog agency might issue a warning letter to the St. Paul, Minn.-based medical device company. Share prices have since recovered, but investors are holding their breath until the possibility of a formal warning letter passes.
St. Jude stock ticked up 0.3% today as of about 1:50 p.m., to $37.29 each.