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The world’s largest medical device manufacturer has many of its operations in the U.S. but is legally headquartered in Dublin. Although the pandemic caused the cancellation of many elective and routine procedures around the world, the company still managed to eke out modest sales growth, up 4% globally, with big gains in respiratory, gastrointestinal, and renal products, as well as products to treat cardiac conditions. Operating profits, however, are down nearly 28% since 2019 because of increased cost of goods sold, R&D expenses, and restructuring charges.
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