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[IP] MiniMed says Q2 profits rose 9 percent


NORTHRIDGE, Calif., July 18  Diabetes care company MiniMed Inc. 
(NASDAQ:MNMD) said on Wednesday its second quarter profits rose about 9 
percent, boosted by sales of insulin pumps to treat diabetes patients.
       MiniMed, which has agreed to be acquired by medical device maker 
Medtronic Inc. (NYSE:MDT) for about $3.28 billion, reported earnings of $9.4 
million, or 14 cents per share, excluding merger-related charges. That 
compares with $8.6 million, or 13 cents per share, a year ago.
       Analysts on average forecast MiniMed would earn 13 cents per share, 
with estimates ranging from 10 cents to 15 cents per share, according to 
research firm Thomson Financial/First Call.
       Sales jumped 39 percent to $96.3 million from $69.4million.
       The company said it is withdrawing its application for marketing 
approval of a new glucose monitoring product, which was being reviewed by 
the U.S. Food and Drug Administration. The company said it intends to 
resubmit the application later this year, but it is preparing additional 
data on the product.

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