Earnings Drop As Medtronic, Inc. Loses $236 Million On Failed Study Charges

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Medtronic Inc on Tuesday reported lower quarterly net earnings due to charges for the failed clinical study of a treatment being developed for high blood pressure. The maker of pacemakers, spinal products, insulin pumps and other medical devices said net earnings were $762 million, or 75 cents a share, in the third quarter ended Jan. 24. That compared with $988 million, or 97 cents a share, a year earlier.

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