St Jude Medical Inc (STJ) SEC Filing 10-K Annual report for the fiscal year ending Saturday, January 1, 2011

Exhibit 99.1

News Release

St. Jude Medical Reports Fourth Quarter and Full-Year 2010 Results

ST. PAUL, Minn. – Jan. 26, 2011 – St. Jude Medical, Inc. (NYSE: STJ) today reported sales and net earnings for the fourth quarter and year ended Jan. 1, 2011.

Fourth Quarter and Full-Year Sales

The Company reported net sales of $1.350 billion in the fourth quarter of 2010, an increase of 12 percent over the $1.203 billion in the fourth quarter of 2009 including a $25 million contribution in the quarter from recently acquired AGA Medical. Foreign currency translation comparisons decreased fourth quarter sales by approximately $14 million. On a currency neutral basis, net sales grew 13 percent over the fourth quarter of 2009.

Net sales in 2010 were $5.165 billion compared to $4.681 billion in 2009, an increase of 10 percent. Foreign currency translation comparisons increased full-year 2010 sales by about $23 million. On a currency neutral basis, net sales grew 10 percent over the prior year.

Commenting on the Company’s results and growth program, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “2010 was a highly successful year for St. Jude Medical. In spite of difficult macro-economic challenges, we grew adjusted EPS by 24 percent and invested approximately $2 billion through research and development and acquisitions to support our long-term growth program. We look forward to providing our guidance for the first quarter and full-year 2011 on our earnings call this morning. We will provide additional detail on our future growth initiatives during our annual Investor Meeting on February 4^th.”

Cardiac Rhythm Management (CRM)

Total Cardiac Rhythm Management sales, which include implantable cardioverter defibrillator (ICD) and pacemaker products, were $762 million for the fourth quarter of 2010, a 9 percent increase compared to the fourth quarter of 2009. After adjusting for the impact of foreign currency, total CRM sales increased 11 percent. Total CRM product sales for the full-year 2010 were $3.040 billion, representing a 10 percent increase over 2009. On a currency neutral basis, total CRM sales grew 10 percent over the prior year.

Of that total, ICD product sales were $458 million in the fourth quarter, a 16 percent increase compared to the fourth quarter of 2009. ICD revenue growth increased 18 percent after adjusting for the impact of foreign currency. ICD product sales for the full-year 2010 were $1.820 billion, representing a 15 percent increase over 2009.

Fourth quarter pacemaker sales were $304 million, consistent with last year’s fourth quarter. After adjusting for the impact of foreign currency, pacemaker sales increased 1 percent. Total pacemaker sales for 2010 were $1.220 billion, up 2 percent over 2009. On a constant currency basis, total pacemaker sales grew 2 percent over the prior year.