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Kensey Nash (KNSY) Enters Mediation with St. Jude (STJ), Announces Royalty Rate Cut, Withdraws Guidance

December 16, 2011 7:33 AM EST Send to a Friend
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Cost of products sold: 7.87M

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Kensey Nash (Nasdaq: KNSY) enter into mediation with St. Jude (NYSE: STJ) over Angio-Seal contract disputes; royalty rate cut to 2%.

Kensey Nash has withdrawn its earnings guidance. Sees the rate cut reducing the December quarter forecast by 14 cents per share.

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