Medical gear maker Getinge plummets after FDA issues safety warning

Getinge publ AB

10/05/2024 08:51

** Shares in Getinge  GETIb.ST  drop about 8% after U.S. FDA
issued a warning on the safety of two of the Swedish medical
equipment maker's heart devices
    ** FDA advised healthcare facilities to switch from
Getinge's heart devices amid safety concerns
    ** Getting did not immediately reply to an emailed request
for comment and could not be reached for comment by phone
    ** Kepler Cheuvreux, via Swedbank Aktiellt, says that while
nothing new has emerged, the letter from FDA could negatively
impact the important U.S. market
    ** The broker says that demand for Getinge's products ECMO
and IABP may take a hit, however, flags that the impact could be
mitigated by the lack of a sales ban and alternative supplies as
well as the fact that work has been ongoing to address quality
issues for some time
    ** "This still creates uncertainty, which negatively affects
the risk-return profile," Kepler  adds
    ** Getinge's stock is the worst performing stock on the
pan-European STOXX 600 index  .STOXX , and, if losses hold, will
see its worst day since Feb. 1
    


 (Reporting by Elsa Ohlen)
 ((elsa.ohlen@thomsonreuters.com;))