1999 (million $)
2000 (million $)
Y/Y Change (%)

JNJ

$132,415
JNJ
$148,575
+12

Abbott

56,539
Abbott
75,216
+33

Medtronic
44,454
Medtronic
73,500
+65

Baxter

18,593
Baxter
26,576
+43

Guidant

14,565
Guidant
16,582
+14

Boston Scientific

9,242
Stryker
10,297
+48

BD

7,074
BD
9,230
+30

Stryker

6,935
Biomet
7,143
+51

Biomet

4,736
Boston Scientific
5,511
(40)

Smith & Nephew

3,761
Smith & Nephew
5,134
+37

St. Jude

2,585
St. Jude
5,277
+104

MiniMed
2,307
MiniMed
2,848
+23

Beckman Coulter

1,465
Beckman Coulter
2,621
+79

ResMed

647
ResMed
1,324
+105

IDEXX

609
Edwards Lifesciences
1,112
NA

Ventana Medicala

368
Cerus
990
+189

Cerusa
343
Idexx
792
+30

Novostea
255
Novoste
448
+75

Closure Medical

172
Wilson Greatbatch
532
NA

 

  

Closure Medical

432

+151

 

  

Ventana Medical

289

(21)

 

  

Oratec

123

NA

Total ($)b

303,305

Total ($)c

388,763

 

Change Index ($)

(12,700)

Change Index ($)

85,458

 

Change Index (%)

(4.0)

Change Index (%)

+28.2

 

Change S&P 500 (%)

+20.0

Change S&P 500 (%)

(10.0)

 

aAssumes share offering in 2000 pro forma.
bExcludes Smith & Nephew, ADR not listed in 1998.
cExcludes Oratec, EW, Wilson Greatbatch, and Smith & Nephew because not in base.

Table I. In 2000, medtech stocks outperformed the S&P 500, which finished the year in negative territory. Source: Merrill Lynch.