Medtronic’s shares have dropped in value
Since the Food and Drug Administration recalled the Sprint Fidelis leads wires used in Medtronic’s cardioverter defibrillators (ICDs), the company’s shares have dropped 18 percent, from $56.33 to $45.99. The FDA noted that broken leads are causing “inappropriate shocks” in patients who have the medical devices implanted. On October 15th, the company said it would stop selling the Fidelis leads and that they may have contributed to the deaths of five patients. Medtronic had received 679 reports of injuries caused by fractures in the leads. Last February, the Minneapolis Heart Institute told Medtronic that it would no longer use the leads.
