The Natick-based stents giant is calling its new nickel-titanium alloy stent, designed to treat iliac artery disease, the “next generation” of nitinol device. The stent launched in Europe in April.
Boston Scientific Corp. can’t seem to catch a break.
Despite the publication of results from vairous clinical trials that show the superiority of drug-eluting stents — and, in one study, the superiority of the Natick device goliath’s DES over its competitors’ — its share price took a more than 2 percent dive today.
The company’s total tab is $6.25 billion, with an average interest rate of 5.84 percent. At the end of 2008, the company owed more than $6.78 billion, but has paid down about $500 million since January, at least some of it on the backs of Peter Nicholas and John Abele.
The BSC co-founders sold an enormous amount of personal stock in the company over the past six months.
First-quarter sales for Boston Scientific Corp. slipped 1.8 percent to $2.01 billion, compared with $2.05 billion during the same period last year, as it struggles with a large chunk of long-term debt and fights expensive legal battles on a number of fronts.
The Natick-based devices giant plunged into the red, posting a $13 million net loss for the quarter ending March 31, compared with net income of $322 million during the first quarter of 2008.
The Boston-based company’s device is designed to be inserted into the hearts of patients with defects in the wall between the ventricular chambers.
The StarFlex implant closes the defect, preventing already-oxygenated blood from returning to the lungs before being pumped back into the body.
You’d think after about 20 years, questions about the efficacy of stents would be settled. You’d be wrong.
Analysis of data from the study, which aims to determine whether the device can help prevent stroke or ischemia from patent formane ovale, is due to be released during the fourth quarter of 2010. PFO is a defect in the septum separating the heart’s atrial chambers.
The StarFlex implant closes the defect, preventing venous blood from returning to the body without being oxygenated by the lungs.
The outcome of the 10-year court battle is still murky, despite the ruling, which failed to determine “the question of who owes what to whom,” according to the journal.