St Jude Medical reports growth in first quarter of 2012

St Jude Medical has published its financial results for the first quarter of 2012, reporting better-than-expected net sales and earnings figures.

Revenues for the three months totalled $1.4 billion (863.64 million pounds), with rising demand for atrial fibrillation, neuromodulation and cardiovascular products offsetting a decline in cardiac rhythm management sales.

Daniel Starks, St Jude Medical's chairman, president and chief executive officer, highlighted the introduction of products such as its new US line of Unify Quadra implantable cardioverter-defibrillators as key drivers of growth.

As a result of this, the company has raised its financial forecasts for the full-year period.

Mr Starks said: "We look forward to building on our strong start to 2012 by introducing our Portico line of transcatheter heart valves and our EnligHTN line of renal denervation products in Europe."

Last month, the company was named by Fortune Magazine as one of the most admired businesses in the world.