US stocks fell on Tuesday, and the Dow fell more than 250 points in intraday trading. The oil price fell from a high level, the dollar strengthened, and the Democratic Party’s lead in the polls (which advocated lowering the price of medicines) led to the pressure on medical health stocks and raw materials stocks.
Medical health stocks led the decline. In the case of individual stocks, cardiac implant devices produced by heart equipment manufacturer St. Jude are at risk of premature battery exhaustion and the company will recall them. This problem has caused two European patients to die. Illumina lowered its three-quarter revenue forecast, and its sales of high-throughput sequencing instruments fell more than expected, with stocks plummeting nearly 25%. St. Jude (STJ) fell 3.5%, Abbott (ABT) fell 5.3%, Johnson & Johnson (JNJ) fell 1.8%, Merck (MRK) fell 3%, and Lilly (LLY) fell 1.5%.
Heart device manufacturer St. Jude said the company will recall because of the risk of premature battery exhaustion in the company's heart implant devices. This problem has caused two European patients to die.
In a letter to the doctor, the company said it was affected by the risk of premature battery depletion, and the company would recall approximately 400,000 buried cardioverter defibrillators (ICDs) worldwide - the device was used in the heart When the abnormal jump is accelerated, the electric shock returns to the normal beating frequency.
The company claims that there are already about 800 products that have been recalled. The product was launched in 2010 and was expected to last for at least seven years. Premature battery drain will prevent the device from generating enough power when it should work
The company said the recall would not have too many negative effects on the company's financial situation, but many patients are expected to have to find a doctor to replace the equipment.
But company medical officer Mark Carlson said the company strongly recommends that most patients do not prevent preventive replacement because "the risk of replacing equipment is far greater than the risk of equipment failure."
The FDA said patients should replace the device as soon as the device indicates that the battery is low. The hospital should also replace the problematic product involved in the recall.
St. Jude's products are in constant flux this year. In August this year, the famous short-selling organization, Lishui Capital, announced that it is shorting cardiovascular equipment manufacturer St. Jude Medical (STJ), saying that the company produces pacemakers, defibrillators and CRT monitors have system vulnerabilities that are being hacked. Low-level hackers can invade systems in company equipment that allow doctors to remotely monitor patient data. This may result in the patient's device frequency being artificially set and its battery may be exhausted in advance.
St. Jude agreed in April to be acquired by Abbott for $25 billion, and today fell while dragging Abbott.
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