Covidien offers 2009 sales outlook

NEW YORK—Medical device maker and diversified health care company said it expects sales to rise in 2009

The Bermuda-based company, which split from Tyco International Inc. last year, said it expects sales in 2009 will grow 5 percent to 8 percent from 2008 at current foreign exchange rates, or 6 percent to 9 percent on an operational basis, excluding foreign exchange rates.

Also, the launch of Oxycodone Hydrochloride extended-release tablets, a narcotic painkiller, is expected to add at least 15 cents per share to fiscal 2009 earnings.

The company also plans to release TussiCaps extended-release capsules, an antihistamine, later this month.

Covidien released the statement accompanying after its meeting with investors on Wednesday.