Silvia Quintanilla's List: Covidien

• Valenti served as vice president and general manager, Surgical Devices (U.S.),  for Covidien, where he led the U.S. sales and marketing strategy for the $1  billion product portfolio from 2007 to 2008

• Covidien Ltd.'s (COV) fiscal second-quarter net income dropped 30% as the  company booked big legal and tax charges, but sales topped Wall Street  expectations with help from a generic pain drug and despite continued problems  in the company's business for imaging products
• is feeling only a minor impact from cutbacks in hospital spending
• The company's top executives and U.S. operations are based in Mansfield, Mass.
• The imaging-solutions business, which makes products injected into patients to  create traceable signals during medical scans, continued to struggle during the  quarter in a 9% drop in sales. A big issue was a long-term outage at a Dutch  nuclear reactor that supplies Covidien with material used in its products

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• The company has a global portfolio of more than 50,000 products. - PTI

• Health-care products company Covidien Ltd. is embarking on a $100 million  expansion of its St. Louis County facilities over the next five years
• The Covidien Imaging Solutions and Pharmaceutical Products division is based in  the St. Louis area.
• Steve Hanley, president of the imaging solutions global business unit.
• The Webster Groves expansion is part of a companywide initiative to increase its  investment in research and development
• The company has doubled its total R&D spending over the last five years, and  currently invests 3.2 percent of sales in R&D efforts
• The company plans to increase that amount to up to 5 percent of sales over the  next few years, according to Schooler
• They are the sixth largest pharmaceutical manufacturer in the United States
• The company includes the former Mallinckrodt, which was launched in St. Louis in  1867. Mallinckrodt was bought by Tyco International in 2000, and in 2007 Tyco  separated into three publicly traded companies: Tyco International, Tyco  Electronics and Covidien.
• Covidien's management has executed nearly flawlessly since the spin from Tyco  Healthcare and, we believe, is poised to continue

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• Covidien, formerly U.S. Surgical, announced to its employees on Wednesday that  it will close the Norwalk facility at 150 Glover Ave. within two years as it  seeks a larger space in New Haven County
• The Connecticut locations are the Surgical Devices Global Business unit of  Covidien.
• Covidien spun off from Tyco Healthcare in July 2007. The company announced last  week it was closing a plant in Water-town, N.Y., eliminating 247 jobs.

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• Covidien's decision to close its Watertown facility and cut all 247 jobs here is  a continuation of a $200 million restructuring plan announced last September,
• that closing the Faichney Drive plant by August 2010 would help ensure it would  be profitable in the long term
• The company has 60 manufacturing facilities worldwide

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• With "co" representing the Latin word for "together" and "vid," a root for the  Latin root for "life,"
• including two Boulder-based divisions: Energy-based Devices (formerly Valleylab)  and Respiratory & Monitoring Solutions (formerly Nellcor Puritan Bennett,  which relocated to Boulder in January 2007 from Pleasanton, Calif.).
• Boulder became home to another Tyco Healthcare division: Nellcor Puritan  Bennett.
• Since the split from the Tyco conglomerate, business has been very strong  because of the fueling of the "R&D engine," Hanson said
• among the 1,500-employee Energy-based Devices operation.
• Respiratory & Monitoring Solutions is now 300 people strong and should hire  50 more people by the end of the year

• Energy-based Devices has three focuses:
• Among Covidien divisions benefiting from the changing demographics is the local  Respiratory & Monitoring Solutions, Drake said
• Covidien's Aug. 7 acquisition of technology assets of CardioDigital Inc
• the medical device industry has performed solidly,
• Tyco Healthcare invested $232 million in research and development endeavors.  Conversely during that period, competitor Medtronic Inc. spent $951.3 million.  Nine months into this year, Covidien's fiscal 2008, the company has spent $238  million on research and development.
• Over the next 12 to 18 months, Covidien's transformation from a cash-flow  focused conglomerate division into a faster-growing, more nimble and more  profitable MedTech player should continue to evolve and progress
• However, he noted, the company has taken steps to turn things around such as  moving the unit's headquarters to Boulder from California

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• The announcement comes as the Massachusetts-based health care company moves four  product lines from Faichney Drive to a Covidien manufacturing facility in China

• 42,000 employees
• more than 200 offices, laboratories and manufacturing facilities located in 57 countries around the world
• Romeo Catracchia, President of Covidien Canada, located in Pointe-Claire, Quebec,
• Covidien is the world's fifth largest healthcare products company

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• Covidien's $1.1  billion Imaging Solutions business supplies contrast media delivery systems,
• The Company's $900 million Pharmaceutical Products business is the world's  largest manufacturer of acetaminophen

• a key US generic pharmaceutical supplier and one of the leading  pharmaceutical businesses in the US.

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• We do primarily focus on that. We've made some major investments in selling and  marketing over the last two years and more than 90 percent of that went to  medical devices. But the pharmaceuticals business - that's good growth, good  margins. Imaging has good sales growth. So there are other businesses that may  not be as compelling as medical devices, but there are good returns
• We've added a lot of finance, tax, legal, selling, marketing, and R&D, but  especially those public company functions. We've got quite a campus in Mansfield

• In addition to Baxter, companies that have recalled heparin products made with  Chinese ingredients include Covidien, formerly Tyco Healthcare, and B. Braun
• Both Covidien and Braun said that they had received no reports of adverse  reactions from the heparin and that the recalls had been undertaken merely as a  precaution.

• Hunt, President, Patient Care and Safety Products, Covidien
• commitment to meeting the safety needs of our customers
• "As you may know, there is litigation under way related to the current Magellan  Safety Needle technology used on our Magellan family of products. We are  optimistic that the litigation will ultimately be resolved in our favor," Hunt  added.

• Covidien also announced that it has appealed a U.S. District Court jury  finding in November 2007 that Covidien's current Magellan Safety Needle products  infringed one of Becton Dickinson's patents and a subsequent judge's ruling  granting Becton Dickinson's request for an injunction against Covidien's current  Magellan Safety Needle product line. The injunction is scheduled to take effect  on December 17, 2008. Over the next several weeks, Covidien will transition from  its current line to its new and improved Safety Needle products.
• While we respect the judge's recent ruling in this matter, we believe our  current product line does not infringe on Becton Dickinson's intellectual  property

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