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Boston Scientific Announces Results for Third Quarter Ended September 30, 2009
Date:10/19/2009

NATICK, Mass., Oct. 19 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced financial results for the third quarter ended September 30, 2009, as well as guidance for net sales and earnings per share (EPS) for the fourth quarter and full year 2009.

Third quarter highlights (Sales growth rates are constant currency):

  • Increased sales three percent to $2.025 billion and achieved adjusted EPS of $0.19, both within the Company's guidance ranges
  • Reported GAAP EPS of $0.13, at the high end of the Company's range
  • Maintained leadership position in the worldwide drug-eluting stent (DES) market with a 41 percent share, including a 49 percent share of the U.S. market and a 47 percent share of the Japanese market
  • Increased worldwide cardiac rhythm management (CRM) product sales eight percent
  • Increased worldwide Endosurgery sales eight percent, including a 10 percent increase in Endoscopy sales
  • Increased worldwide Neuromodulation sales 21 percent
  • Prepaid $225 million of term loan debt
  • Settled 14 outstanding patent litigation matters with Johnson & Johnson

"So far this year, CRM market growth has not been as strong as expected, but our CRM business has continued to grow, and we have not seen the slowdown in hospital stocking described by St. Jude," said Ray Elliott, President and Chief Executive Officer of Boston Scientific. "In DES, we maintained our worldwide leadership position. A key component of that leadership has been our TAXUS franchise, which has been studied in more than 46,000 patients over the past nine years. The COMPARE data presented last month are inconsistent with the overall body of TAXUS evidence, and we expect that the results of future studies will be more in line with those of other TAXUS trials. S
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SOURCE Boston Scientific Corporation
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