August 24, 2021
Value destruction
Looking at the results released by Medtronic this morning it’s difficult to find a silver lining among the very dark clouds. You know the diabetes unit has major issues when the company highlights growth in emerging markets which is nice until you consider the size of these markets. Domestically sales fell 15% while in developed markets outside the US sales grew an anemic 6.2%.
The company seems to believe that their newer products awaiting FDA approval will reverse this trend. Which is like Chicago Bears fans believing that their first-round draft pick QB Justin Fields . . .
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