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Develops, manufactures and markets innovative surface modification and drug delivery technologies for the healthcare industry.
Drug delivery unit derives most of its profits from JNJ stent business. The pharma just reported earnings that saw the stent business generate revenues that were down 28% in the U.S., 16% worldwide. On top of that appeals court says JNJ's stent business infringed on Boston Scientific's patents. SRDX could face a rough couple of months, particularly with its own earnings due out soon.
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