The bad news just keeps on coming for Medtronic Inc., the Minneapolis-based medical device giant.
What a difference a day makes.
Yesterday Boston Scientific Corp. was fielding false claims and Medicare fraud charges.
Boston Scientific Corp. announced plans for a $128 million research & development lab in Galway, Ireland.
The Natick device maker, which already employs about 5,000 in Ireland, said the project will create roughly 45 jobs over five years, the Independent reported. The lab will focus on early-stage development projects.
CorNova Inc.‘s Valecor platinum coronary stent system won CE mark approval for sale in the European Union.
The Burlington-based device maker said the next-generation bare-metal device, made of cobalt-chromium using ion-based Nanofusion technology, presents a pure platinum surface to both the lumen and artery wall to protect them from the less-compatible elements inherent in medical-grade alloys.
Abbott Laboratories fired the latest salvo in the long-running stent war, saying it plans to begin selling its Xience Prime coronary device in Europe during the third quarter after winning CE Mark approval from the European Union.
The latest version of the Chicago-based medical device monolith’s drug-eluting Xience platform competes head-to-head with products from Natick-based peer Boston Scientific, Johnson & Johnson and Medtronic Inc.
The federal watchdog agency cleared the device for treatment of coronary vessels as small as 2.25mm in diameter, making it and its Taxus Express Atom cousin the only two drug-eluting stents approved for procedures involving small vessels in the United States.
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.
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.