Boston Scientific reports $1.6 billion first-quarter loss

April 26, 2010 by MassDevice staff

Boston Scientific Corp. executives predict its recent defibrillator glitch could undercut sales this year by $500 million and reduce 2010 earnings by as much as $2 billion.

A self-imposed hold on two of its best-selling defibrillators last month helped rip a $1.8 billion hole in the bottom line at Boston Scientific Corp. (NYSE:BSX) during the first three months of 2010.

The company also said that the month-long suspension of U.S. sales for its Cognis and Teligen defibrillators could result in as much as $500 million in lost sales during 2010 and reduce adjusted earnings this year by at least $180 million.

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