Zimmer Biomet Holdings Inc. said the U.S. Food and Drug Administration has closed out a warning letter issued relating to the musculoskeletal health care company's manufacturing facility in China. "The successful clearance of the Warning Letter related to our Zhejiang, China manufacturing facility is a measure of the progress we have made in our ongoing quality and operational excellence journey," said Zimmer Chief Executive David Dvorak. The stock, which was still inactive in premarket trade, has run up 21% year to date, while the S&P 500 has gained 8.5%.
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