St. Jude Medical stock fell sharply (excess of 13 percent) recently as a report by U.S. health regulators again discussed the specter of new safety concerns regarding the company's implantable defibrillator lead wires, analysts said.
The United States Food and Drug Administration ("FDA") stated that in the product defect associated with these various, defibrillator lead wires involves issues surrounding design verification activities in the St. Jude's Riata lead wires (called the "Durata"), were inadequate. The leads are wires connecting an implantable heart defibrillator.
The product liability attorneys at Shoop | A Professional Law Corporation have previously blogged at length with regard to both the product defects and FDA warning letter associated with these St. Jude Medical products. A link to those entries can be found here:
These various, St. Jude shares tumbled $4.65 to $31.06 in afternoon trading and shares of St. Jude Medical's competitors within the market of defibrillator lead wires significantly advanced.
A previous iteration of the Durata leads, known as "Riata," were recalled in 2012 due in large part to compromised insulation, which eroded, exposing the lead wire cables - and there is mounting evidence that the Durata leads will be plagued by these same defects, said David Roman, a Goldman Sachs analyst.
"Food and Drug Administration's announcement is apt to put additional pressure on St. Jude's Defibrillator business," Roman maintained.
Product liability and defective medical device lawyers David Shoop and Don Liddy represent individuals nationally who have suffered injury as a result of defective medical devices and prescription drugs. If you have suffered personal injury as a result of your use or interaction with a defective product, you need experienced legal counsel with proven experience in these matters.
The attorneys at Shoop | A Professional Law Corporation continue to accept cases involving defective medical devices related to St. Jude's Riata, Riata ST and Durata lead wires which connect to cardiac defibrillators. These devices have been linked to twenty-two (22) deaths due to short-circuiting according to an article published in a leading cardiology periodical. Call us today for a FREE consultation regarding your potential case.
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