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Monthly compilations are available in PDF form.

Quarterly Review

2Q13 Revenue: Medtronic

(for FY1Q14 ended 7/26/13)

$765MM, -1% (U.S. $536MM, -4%; ex-U.S. $229MM, +5%)

  • Core Spinal $641MM, +1% (U.S. $426MM, -1%; ex-U.S. $215MM, +4%)
  • BMP $124MM, -11% (U.S. $110MM, -14%; ex-U.S. $14MM, +15%)


  • Core spinal showing signs of stability, driven by new products/procedures, imaging, navigation, etc.
  • U.S. core spine pricing showed low-single-digit decline, procedure volumes flat
  • BMP decline appears to be tapering; FY14 global sales expected to be down in mid-single-digits
  • Kanghui orthopedic business growing >20%
  • Published manuscript of retrospective analysis of U.S. payor database, investigating cancer incidence in real world use of INFUSE; authors found no evidence that administration of BMP at time of lumbar fusion procedure is associated with cancer risk
  • Planning complete refresh of anterior cervical plate products; cervical contributes nearly 25% of U.S. core spinal business