Boston Scientific (NYSE:BSX) said the Chinese FDA approved its Alair bronchial thermoplasty system for treating patients with persistent asthma.
The device uses mild heat to "reduce the excessive smooth muscle tissue" in the airways of patients with severe asthma who don’t respond to inhaled corticosteroids and long-acting beta-agonists, according to a press release.
Boston Scientific acquired the Alair system in 2010 with its $193.5 million buyout of Asthmatx.
“We are delighted to see that the Boston Scientific Alair bronchial thermoplasty system has been officially certified by the China Food & Drug Administration. Unlike conventional treatments, bronchial thermoplasty offers a viable new option for patients suffering from severe asthma thanks to its breakthrough technology and mechanism of action. We believe this device can markedly improve the quality of life of asthma patients here in China,” vice president and managing director for Boston Scientific’s China office Warren Wang said in prepared remarks.
Natick, Mass.-based Boston Scientific also announced major changes today, saying it plans to lay off up to 1,500 workers by the end of 2015 and announcing the departure of long-time CFO Jeff Capello.
BSX shares were trading at $11.38 apiece as of about 10:30 a.m. today, down 7.6%.
