St. Jude Medical, Inc. reported a 22 percent drop in profits for the third quarter, MarketWatch reports. The Little Canada-based medical equipment supplier and manufacturer posted a profit of $176 million, down from $227 million a year ago.
Meanwhile, St. Jude Medical CEO Daniel Starks told investors the company may get a warning letter from the U.S. Food and Drug Administration about one of its manufacturing facilities in California, Reuters reports.
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