They have been talking about streamlining operations and making their manufacturing more efficient. It's part of that story.
Bruce Cranna
story talking part
Most people in cardiology would say that more is better. If Abbott does acquire the Guidant business, there's very little overlap. There's probably not a lot of restructuring to come.
people business
Can we think of this as a 10 or 11 percent top-line story again? That's unclear.
story
It's more than fairly priced given the lack of visibility and a more constrained hospital (spending) environment.
environment lack hospital
It's a classic situation of expectations getting ahead of the story.
story expectations classic situation
It wasn't a great quarter, but the expectations have gotten so low on J
expectations great
That is always the elephant in the room with J
elephant
It looks like they kind of scraped by. Earnings were in line. Sales were a bit light, mostly on the drug side of the business. It's nothing to jump up and down about.
business light kind sales side
As drug classes go, growth rates in anti-psychotics are actually quite healthy. But it's fairly well penetrated. It gets harder to grow as [the industry] gets bigger.
growth healthy grow
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