Now that Boston Scientific Corp. (NYSE:BSX) has paid off a slew of debt, legal bills and earnouts, it’s turning its eye toward buying back its own stock and making further acquisitions, CFO Jeffrey Cappello told investors at a conference in New York today.
Boston Scientific
Flash: BSX names JNJ exec Michael Mahoney as next CEO
Recall won’t hit MDT’s bottom line, Stryker’s $750M offering, and a $154M tax bill for BSX | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
IRS slaps Boston Scientific with $154 million tax bill
The U.S. Internal Revenue Service hit Boston Scientific Corp. (NYSE:BSX) with a $154 million tax bill after taking a look at the medical device maker’s books for 2006 and 2007.
The federal tax bureau sent a “Notice of Deficiency” to Natick, Mass.-based Boston Scientific Sept. 7, detailing the addition net taxes it says the company owes – plus interest – after an audit of its tax filings for those two years.
Transvaginal mesh makers defend their devices, Riata leads poke holes during Irish study, Cochlear shares nosedive after recall | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with Massdevice +3.
Boston Scientific and other transvaginal mesh makers defend their devices amid FDA probe
Boston Scientific Corp. (NYSE:BSX) issued an official statement urging the FDA to leave transvaginal mesh products under their current classification, despite growing concerns that the products do more harm than good.
Update: FDA panel may bump transvaginal mesh up to high-risk without issuing a recall
An FDA advisory panel meeting yesterday and today may lean toward reclassifying transvaginal mesh products as Class III, the highest-risk category for medical devices, without recalling existing products.
Zacks details top med-tech picks
Analysts at Zacks Investment Research see sunnier days ahead for the medical device sector during the second half of 2011, despite lingering economic softness and ongoing pressure on the orthopedic market.
Estimating worldwide sales of roughly $300 billion this year, the researchers peg the U.S. market’s share at about $95 billion in 2010.
Study: Brain stents linked to higher stroke and death rates
Stroke patients who received artery-widening brain stents had higher rates of stroke and death than patients who took only medication and received lifestyle change advice, researchers said.
High-risk patients treated with blood thinners and lifestyle coaching had lower rates of stroke and death than those who received Stryker Corp.’s (NYSE:SYK) Wingspan brain stent in addition to the medication and guidance, but researchers aren’t ready to give up on the technology just yet.
Will BRIC bubble still be there for med-tech?
Med-tech companies may not get as much bang for their buck in emerging markets, according to a dim forecast for the BRIC economies by investment bank Goldman Sachs.
Indices created by the bank predicted flat 7.9 percent growth for Brazil, Russia, India and China through 2012.