Total sales of cardiovascular products for the fourth quarter of 2008 were $219 million, up 7% over the fourth quarter of 2007 including $3 million of unfavorable foreign currency translations. Total cardiovascular product sales for the full year 2008 were $862 million, up 9% over 2007, including $34 million of an increase due to favorable foreign currency translation.
Within this category of products, sales of vascular closure products in the fourth quarter of 2008 were $92 million, a 1% increase over the fourth quarter of 2007. Total vascular closure product sales for 2008 were $368 million, up 4% over 2007.
Sales of heart valve products in the fourth quarter of 2008 were $79 million, a 7% increase over the fourth quarter of 2007. Total sales of heart valve products for 2008 were $322 million, up 11% over 2007. For the first quarter of 2009, we expect cardiovascular product sales to be in the range of $230 million to $245 million.
We expect full year 2009 cardiovascular product sales to be in the range of $970 million to $1 billion. As a reminder, this guidance includes sales of Radi Medical Systems AB, which is being integrated into our Cardiovascular division........
The geographic breakdown of St. Jude Medical sales in the fourth quarter of 2008 was 54% US versus 46% outside the United States or OUS. This compares to 53% US and 47% OUS in the fourth quarter of 2007. A detailed geographic breakdown of this quarter's sales by product shows high-voltage at $249 million US; $138 million OUS; low-voltage at $133 million US; $160 million OUS, atrial fibrillation products at $73 million US and $83 million OUS; and cardiovascular products at $88 million US and $131 million OUS; and finally neuromodulation products at $67 million US and $11 million OUS..........
With respect to our cardiovascular business, we expect that St. Jude Medical's cardiovascular program will return to sustainable double digit sales growth in 2009 and beyond. We look forward to presenting you with more on this topic next week. This presentation will include a review of the four new product lines we acquired with Radi Medical Systems, a new indication in our vascular closure program, the impact of our new Angio-Seal Evolution product line, details on the progress we are making with the Trifecta Stented tissue valve program together with the timing of our anticipated entry into the pericardial segment of the tissue valve market, and a discussion of other new initiatives........
Source: Seekingalpha
