Navigation Links
Boston Scientific Announces Agreement With DOJ On Pre-Acquisition Investigation of Guidant
Date:11/6/2009

NATICK, Mass., Nov. 6 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has reached an agreement in principle with the U.S. Department of Justice (DOJ) related to product advisories issued by its Guidant subsidiary in 2005. The alleged conduct and product sales occurred prior to Boston Scientific's 2006 acquisition of Guidant.

Boston Scientific had previously disclosed an investigation by the U.S. Attorney's Office in Minneapolis into alleged violations of the Food, Drug, and Cosmetic Act by Guidant. Under the terms of the agreement, Guidant will plead to two misdemeanor charges related to failure to include information in reports to the U.S. Food and Drug Administration (FDA), and Boston Scientific will pay $296 million on behalf of Guidant.

U.S. Generally Accepted Accounting Principles (GAAP) require that this agreement be recorded in the third quarter, as it occurred after the October 19 release of the Company's third quarter financial results and before the filing of the Company's Quarterly Report on Form 10-Q. Accordingly, the Company has updated its financial results for the third quarter and nine months ended September 30, 2009, recording a third quarter charge of $294 million, on both a pre-tax and after-tax basis. This amount represents the $296 million charge associated with the agreement net of a $2 million reversal of a related accrual.

"We are pleased this investigation has been resolved," said Ray Elliott, President and Chief Executive Officer of Boston Scientific. "Guidant and its employees acted in good faith and believed they complied with applicable laws and regulations. We elected to resolve this matter so we could put it behind us and devote our full energies and resources to developing our innovative technologies."

The only products inv
'/>"/>

SOURCE Boston Scientific Corporation
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Related medicine technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. Boston Scientific Announces Schedule for European Society of Cardiology Congress 2007
3. Boston University Biomedical Engineers Find Chink in Bacterias Armor
4. Boston Scientific to Release Broad Range of Clinical Trial Data Reinforcing Safety and Efficacy of Taxus(R) Coronary Stent Systems at TCT 2007
5. Preliminary Results of Randomized Pilot Study Show Comparable Efficacy for OrbusNeichs Genous(TM) Bio-engineered R Stent(TM) and Boston Scientifics Taxus(R) Stent in Patients at High Risk of Restenosis
6. Boston Scientific PROMUS(TM) and TAXUS(R) Stents Continue Strong Performance in Safety and Efficacy Measures
7. Boston Scientifics Next-Generation Stent Shows Improved Clinical Outcomes in Complex Lesions
8. Positive Five-Year Safety Data for TAXUS(R) Stent Reported in Boston Scientific Trial
9. Boston Scientific Carotid Artery Stenting Trials Produce Positive Three-Year Results
10. Award-Winning Medicine Wheel Returns to the Cyclorama at the Boston Center for the Arts on Dec. 1 for 24-hour Vigil Recognizing World AIDS Day
11. Boston Scientific Announces CE Mark Approval for New Devices to Treat Heart Failure and Sudden Cardiac Death
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/22/2014)... MARCOS, Texas , July 22, 2014 Quantum Materials ... and Mr. John Heaton to the Board of ... by Dr. Ghassan Jabbour , QMC Chief Science Officer and ... Michael Wong of Rice University and Mr. Tomio ... Japan . " Quantum Materials welcomes ...
(Date:7/22/2014)... WASHINGTON, New York , July ... Neue Partnerschaft für umfassenden Schutz ... Medikamenteneinwirkungen in Österreich    ... Anbieter von geschlossenen Transfersystemen (Closed System Transfer Devices, CSTDs) ... Medikus , einen Vertriebshändler und Hersteller ...
(Date:7/22/2014)... July 22, 2014 ... company focused on solid dose formulations of therapeutics ... formulation of octreotide acetate achieved successful results in ... currently marketed liquid product (Sandostatin®).  Based on these ... production process to a contract manufacturing organisation (CMO), ...
Breaking Medicine Technology:Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 2Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 3Quantum Materials Announces New Outside Directors and Adds Scientific Advisory Board 4Equashield ernennt Medikus zu seinem exklusiven österreichischen Vertriebspartner für seine geschlossenen Arzneimitteltransfersysteme 2Glide Pharma Completes Successful Proof-of-Concept Study with Novel Solid Dose Formulation of Octreotide 2
... Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ: ONCY ) ... in a Phase 2 clinical trial using intravenous ... carboplatin in patients with non-small cell lung cancer ... Investigator is Dr. Miguel Villalona-Calero, Professor, Division of ...
... The following is being issued by Coast IRB: ... 2009, Coast IRB informed the public that it had discovered ... that Independent review board for evaluation. Coast IRB has ... part of a congressional "sting" operation. Apparently at the ...
Cached Medicine Technology:Oncolytics Biotech(R) Inc. Announces Start of Enrolment in U.S. Phase 2 Combination Clinical Trial for Non-Small Cell Lung Cancer Patients with K-RAS or EGFR-Activated Tumours 2Congressional 'Sting' Operation Uncovered By Coast IRB 2
(Date:7/22/2014)... July 22, 2014 Learning ZoneXpress ... has released its annual Nutrition Catalog for ... features more than 1,000 products including posters, handouts, ... New and best-selling resource topics include MyPlate ... Colorful and inviting, the LZX Nutrition Catalog features ...
(Date:7/22/2014)... Chicago, IL (PRWEB) July 22, 2014 ... addition of Matthew Baffoe to their Chicago staff. This ... by Taff Construction Incorporated (TCI). Hope For The Warriors® ... service members, their families, and families of the fallen ... line of duty. , Baffoe’s work will support ...
(Date:7/22/2014)... (PRWEB) July 22, 2014 NOVAtime ... of enterprise Time and Attendance / Workforce Management ... a NOVAtime 3000 customer since 2007, has upgraded ... version of NOVAtime’s state-of-the-art, web-based time and attendance ... in Iowa (LSI) is a human services agency ...
(Date:7/22/2014)... Neck, N.Y. (PRWEB) July 22, 2014 Two ... and ADHD were significantly more abused as ... study noted that stimulant treatment for ADHD children ... dependence. However, the data did not reveal causation. , Since ... it is imperative to clarify the origins and best treatment ...
(Date:7/22/2014)... This two-day Live OT PT ... professionals gain basic knowledge of Pilates theory and principles ... programs. The core stabilizing muscles will be reviewed, as ... activities and activities of daily living. The lab portion ... Pilates mat exercises. Small apparatus, including foam rolls, Swiss ...
Breaking Medicine News(10 mins):Health News:Learning ZoneXpress (LZX) Publishes Nutrition Catalog Filled with Creative, Relevant, Affordable Teaching Tools 2Health News:Learning ZoneXpress (LZX) Publishes Nutrition Catalog Filled with Creative, Relevant, Affordable Teaching Tools 3Health News:Hope For The Warriors Builds on Staff and Office Space in Chicago to Support Career Transition for Vets 2Health News:Lutheran Services in Iowa Upgrades to NOVAtime 4000 Time and Attendance / Workforce Management Solution; Benefits from Labor Costing Functionality 2Health News:Lutheran Services in Iowa Upgrades to NOVAtime 4000 Time and Attendance / Workforce Management Solution; Benefits from Labor Costing Functionality 3Health News:New Studies Reporting a Higher Incidence of Child Abuse in ADHD and Dyslexia Suggest a Need for Early Medical Treatment, Notes Dr. Harold Levinson 2Health News:New Studies Reporting a Higher Incidence of Child Abuse in ADHD and Dyslexia Suggest a Need for Early Medical Treatment, Notes Dr. Harold Levinson 3Health News:New Studies Reporting a Higher Incidence of Child Abuse in ADHD and Dyslexia Suggest a Need for Early Medical Treatment, Notes Dr. Harold Levinson 4Health News:Healthclick Introduces Utilizing Pilates Principles to Enhance Rehab Outcome: A Live OT PT Continuing Education Course With an Online/DVD Segment Approved in PA and CA 2
... ANGELES, April 15 Over the past two months, ... of Aging along with contracted vendors and service providers, ... senior" by participating in a series of hands-on ... the physical challenges facing the elderly. "The program is ...
... The study, reported in the April 16 issue of the ... California, San Francisco and the Stanford University School of Medicine, ... understanding neurodegenerative disease." , ... (Vocus) ...
... Patrick J. Dugan is the new chief legal officer ... this capacity, Dugan will manage the internal legal staff ... has served as lead outside counsel to Medical Mutual,s ... firm, Squire Sanders. Among Dugan,s career accomplishments are his ...
... techniques -- most notably, laparoscopy -- traditional open ... the United States for people with diseases of ... option is a hybrid -- hand-assisted laparoscopic surgery ... compares favorably with standard laparoscopy, according to a ...
... Software Complies with 100% of Updated Interoperability RequirementsTAMPA, ... a leading provider of electronic health records, today ... Technology (CCHIT(R)) has approved Sage,s product, Sage Intergy ... Ambulatory EHR , additionally certified ...
... Medical Groups Are Favorably Managing Turnover According to ... One silver lining to the current economic ... off retirement, for now. However, with the ... future, medical groups are sharpening their competitive edge ...
Cached Medicine News:Health News:SCAN Health Plan Provides 'Senior Sensitivity Training' to City of Los Angeles Department of Aging and Network Service Providers 2Health News:SCAN Health Plan Provides 'Senior Sensitivity Training' to City of Los Angeles Department of Aging and Network Service Providers 3Health News:UCSF, Stanford Study Reveals Neural Networks Targeted in Brain Diseases 2Health News:UCSF, Stanford Study Reveals Neural Networks Targeted in Brain Diseases 3Health News:UCSF, Stanford Study Reveals Neural Networks Targeted in Brain Diseases 4Health News:Helping hand of hybrid surgery benefits colorectal patients 2Health News:Sage Intergy EHR Receives 08 CCHIT Certification 2Health News:Sage Intergy EHR Receives 08 CCHIT Certification 3Health News:Sage Intergy EHR Receives 08 CCHIT Certification 4Health News:Sage Intergy EHR Receives 08 CCHIT Certification 5Health News:The Economy Plus Flexibility Keep Physicians in Practice 2Health News:The Economy Plus Flexibility Keep Physicians in Practice 3Health News:The Economy Plus Flexibility Keep Physicians in Practice 4
These retractors are packaged singly ready for sterilization at your facility....
... is a revolutionary motorized electronic pipette. ... mind, Pipetman Concept features exclusive multifunction ... only one of its kind in ... Tips from Gilson, this product will ...
Rainbow technology combines the latest in system theory, adaptive signal processing and a revolutionary sensor that employs eight wavelengths of light to collect and analyze an extraordinarily rich s...
... is a revolutionary motorized electronic pipette. ... mind, Pipetman Concept features exclusive multifunction ... only one of its kind in ... Tips from Gilson, this product will ...
Medicine Products: