BUZZ - Smith & Nephew confirms merger talks with Johnson & Johnson have collapsed and cuts earnings outlook; shares plunge

November 4 -

** Shares of UK medical products manufacturer Smith & Nephew SN.L fell 2.6% to 1088.5 pence, ranking among the biggest decliners on the FTSE 100 Index .FTSE

** The company (link) confirmed previous reports that Johnson & Johnson JNJ.N had approached it earlier this year about a potential orthopedic business merger, but those talks have now ended

** SN lowered its annual revenue (link) and profit forecasts due to weak growth in its US orthopedics business, and expects this trend to continue into the fourth quarter
** As of Tuesday’s close, the stock had fallen 9.8%, while the FTSE 100 Index has risen 7.25% so far this year

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