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News Breaks January 7, 2013 12:54 EDT MDT Medtronic raises low end of FY13 outlook for tax credit Medtronic confirmed in a press release that it tightened its FY13 earnings guidance range to $3.66-$3.70 from the previously stated range of $3.62-$3.70. The new range implies annual EPS growth of 6%-7%. Management indicated that the company's updated guidance is based on the positive financial impact from the recent renewal of the U.S. Research and Development tax credit. As previously stated, management estimates the R&D tax credit to have a positive annual earnings and EPS impact of approximately $30M-35M and 4c, respectively. Due to retroactive accounting treatment, the company expects to realize 3c of diluted EPS benefit in Q3, and 1c in Q4, of FY13. News For MDT From The Last 14 Days Check below for free stories on MDT the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 18, 2013 09:04 EDT MDT Wells Faro to host a conference 2013 Healthcare Conference is being held in Boston on June 18-19 with webcasted company presentations to begin at 8:15 am; not all company presentations may be webcasted. Webcast Link 07:56 EDT MDT Medtronic InFuse sales unlikely to drop meaningfully, says Stifel After examining Yale's review of Medtronic's InFuse program, Stifel doesn't see any significant surprises in the report that would trigger a meaningful downturn in sales of the product. The firm keeps a Hold rating on Medtronic. 07:28 EDT MDT Wells Faro to host a conference Subscribe for More Information 07:22 EDT MDT Impact to Medtronic from Infuse risk manageable, says Bernstein After Yale reviewed Medtronic's Infuse product and found that it slightly increases cancer risk, Bernstein expects the impact on Medtronic's stock to be manageable, as Infuse makes up only 3% of the company's sales and less of its profits. The firm expects Infuse sales to drop by about 4% in FY14, but it keeps an Outperform rating on the stock. June 17, 2013 18:02 EDT MDT Medtronic acknowledges findings from Yale review of Infuse bone graft Subscribe for More Information June 14, 2013 09:57 EDT MDT Court ruling a minor negative for Edwards Lifesciences, says Leerink Subscribe for More Information 09:45 EDT MDT Edwards lost first of three cases against Medtronic, says Wells Fargo Subscribe for More Information 07:53 EDT MDT Edwards loses patent bid in Germany versus Medtronic, Bloomberg says A German court ruled that Edwards Lifescience's (EW) patent does not cover Medtronic's (MDT) product, Bloomberg reports. June 13, 2013 11:02 EDT MDT Leerink's major pharma analyst holds an analyst/Industry conference call Subscribe for More Information 05:17 EDT MDT Medtronic announce CE Mark of ReDux Plier instrument Subscribe for More Information June 12, 2013 05:25 EDT MDT NuVasive announces court ruling, intends to appeal verdict in Medtronic case NuVasive announced that it received a ruling from the U.S. District Court in regards to ongoing royalty rates for Phase I of its patent litigation with Medtronic. As part of the verdict in Phase I of the litigation, royalty rates were determined by the jury as follows: 10% on certain of NuVasive's CoRoent XL implants and 3% on certain MaXcess retractors and related products. Before the appeal in Phase I could move forward, the Court was required to determine the ongoing royalty rates applicable to these products during the period of time following the verdict. Medtronic requested ongoing royalty rates of 36% on the applicable NuVasive CoRoent XL implants and 11% on the applicable MaXcess retractors and related products. However, in the ruling received, the Court ordered royalty rates of 13.75% on the applicable CoRoent XL implants and 8.25% on the applicable MaXcess retractors. Since September 2011, NuVasive has been accruing an estimated litigation royalty expense based on the royalty rates used in the jury's original calculation of lost profits and monetary damages. Prior to the post-verdict rates issued by the Court, the company had expected litigation royalty expense of approximately $11M for FY13. The new royalty rates determined today will increase that expected litigation royalty expense for 2013 by approximately $5M. In addition, in the current quarter, the company will record an approximate $6.5M charge to account for the historical difference between the post-verdict royalty rates determined today and the rates that were being used to calculate the litigation royalty expense accruals since September 2011. The vast majority of the litigation royalty expense accruals will end in February 2015 as certain Medtronic patents expire. As the verdict is being appealed, the company will accrue to the higher rates determined and will begin to escrow funds on a go-forward basis. June 10, 2013 07:20 EDT MDT Biomed to host a conference Subscribe for More Information 07:19 EDT MDT PTC to host conference Subscribe for More Information June 7, 2013 08:23 EDT MDT Medtronic has a conference call hosted by JPMorgan Subscribe for More Information June 4, 2013 10:02 EDT MDT Medtronic says angioplasty catheter received FDA clearance Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.