Amid a falling stock market, a nuclear crisis and recovery efforts following last week’s earthquake and tsunami in Japan, several U.S.-based healthcare companies with facilities on the island nation are keeping a close eye on the evolving situation there.
“We’re pleased that our employees are OK,” said Brian Henry, senior director of media relations for Medtronic, a Minneapolis-based medical technology company with five offices in Japan employing 1,000 workers.
With the situation in Japan still in flux, Henry said it's not appropriate at this time to estimate the disaster’s effects on Medtronic's business. As of Monday, he said, the company was still operating in Japan and has pledged to donate $1 million to help with the relief efforts.
Officials for Massachusetts-based medical devices company Boston Scientific, with 14 offices in Japan, said no employees were killed or injured in last week’s earthquake and tsunami. The company is assessing what impact the ongoing disaster will have on supply and service operations, said Erik Kopp, director of corporate communications.
Novartis, based in Basel, Switzerland and one of the world’s largest pharmaceutical companies, indicated no facilities were seriously affected by the earthquake and tsunami and all employees have been accounted for. The company is doing what it can to aid its employees and their families, said Julie Masow, the company’s director of external communications and issues management in New York City.
“Novartis will continue to monitor the situation closely and is working with the local authorities to ensure the supply of essential medicines,” Masow said. “Novartis is also talking to government authorities and NGOs such as the Swiss Agency for Development and Cooperation and the International Red Cross to consider the provision of appropriate support, according to local need.”
St. Jude Medical, based in St. Paul, Minn., has about 700 employees working in selling and distribution throughout Japan. All of the company’s employees are safe, said Marisa Bluestone, the medical device company's manager of international public relations and communications, and damages to its facilities appear to be manageable.
“St. Jude Medical’s primary concerns at this time are to ensure the well-being of our employees and provide physicians continuous access to our life-sustaining technologies,” Bluestone said. “To do this, the Japan team is executing a plan to assist employees in need, address the status of our facilities and resume operations.”
Officials at Massachusetts-based medical device company Covidien said none of its facilities in Japan sustained significant damages and all of its nearly 1,500 employees are safe. “We are working closely with our philanthropic partners to determine what medical supplies and equipment will be needed in the days and weeks ahead,” said Bruce Farmer, the company’s vice president for public relations.
Pharmaceutical and chemicals company Bayer AG told Dow Jones Newswires over the weekend that none of its 3,400 employees were killed or injured in last week’s earthquake and tsunami and that its buildings suffered light damage. The company is still assessing the impact the disaster will have on its business.
The New York Times reports that Japan’s Nikkei 225 stock market index dropped 14 percent at one point Tuesday and closed down 10.6 percent. The Toyko Stock Price Index also dropped, and investors in other Asian markets and Europe are selling amid fears of a nuclear catastrophe in Japan.
Reuters reports that U.S. stock index futures dropped by about 2 percent Tuesday morning.
The New York Times also reported that the disaster in Japan is causing disruptions in the consumer electronics/technology and automotive industries.