QUOTE AND NEWS
Benzinga  Jun 22  Comment 
Boston Scientific (NYSE: BSX) has initiated a worldwide study to evaluate the rate and causes of shocks for patients implanted with the EMBLEM™ Subcutaneous Implantable Defibrillator (S-ICD) for primary prevention of sudden cardiac death in the...
Jutia Group  Jun 22  Comment 
[PR Newswire] - MARLBOROUGH, Mass., June 22, 2015 /PRNewswire/ -- Boston Scientific (NYSE: BSX) has initiated a worldwide study to evaluate the rate and causes of shocks for patients implanted with the EMBLEM™ Subcutaneous ... Read more on this....
Benzinga  Jun 10  Comment 
Boston Scientific Corporation (NYSE: BSX) presented new data demonstrating  that the Precision Spectra™ Spinal Cord Stimulator (SCS) System provided 1.5 times better overall pain relief and 2 times better low back pain relief than the previous...
Jutia Group  Jun 10  Comment 
[PR Newswire] - MARLBOURGH, Mass., June 10, 2015 /PRNewswire/ -- Boston Scientific Corporation (BSX) presented new data demonstrating that the Precision Spectra™ Spinal Cord Stimulator (SCS) System provided 1.5 times better overall pain relief...
Market Intelligence Center  Jun 10  Comment 
The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center are highlighting two trades on Boston Scientific Corp (BSX) today after it closed at $17.39 on Tuesday. For more conservative...
Jutia Group  Jun 4  Comment 
[PR Newswire] - MARLBOROUGH, Mass., June 4, 2015 /PRNewswire/ -- Boston Scientific announces the European launch of the Precision Novi™ Spinal Cord Stimulator (SCS) System at the International Neuromodulation Society in Montreal, Canada. The...
Insurance Journal  Jun 1  Comment 
A Delaware jury has ordered a medical device manufacturer to pay $100 million to a woman who, despite two surgeries, still has pieces of transvaginal mesh embedded inside her. The News Journal of Wilmington reports the 51-year-old Newark woman was...
Jutia Group  May 27  Comment 
[PR Newswire] - Boston Scientific Corporation (BSX) announces the appointment of Professor John Mark Morgan as senior medical director, Rhythm Management, effective from September 1st, 2015. Prof. Morgan, an internationally recognised expert...
Forbes  May 26  Comment 
The REPRISE II Extended Cohort study was an extension of the REPRISE II clinical trial that reported strong performance data at one year in September 2014. On the other hand, the RESPOND Post-Market Study was initiated in June 2014 to assess the...
Jutia Group  May 26  Comment 
[PR Newswire] - MARLBOROUGH, Mass., May 26, 2015 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) is scheduled to participate in the Goldman Sachs 36 th Annual Global Healthcare Conference on June 9 in Rancho ... Read more on this. ...




 


Boston Scientific (NYSE: BSX) makes cardiology products such as drug-eluting stents and pacemakers, which each respectively accounting for 21% and 16% of total revenues. Drug-coated stents are used to prop up coronary arteries to help prevent heart attacks, but their effectiveness have been questioned after they were linked to a risk of blood clots, as well as competition from Abbott's stent Xience.[1]

Boston Scientific also makes Endosurgery and Neuromodulation products. The Endosurgery group includes esophageal, gastric, and duodenal intervention products; colorectal, pancreatico-biliary, and pulmonary intervention devices; and products for urinary tract intervention and bladder disease, prostate intervention, pelvic floor reconstruction and urinary incontinence, gynecology, and oncology. The Neuromodulation group comprises Precision Spinal Cord Stimulation system for the treatment of chronic pain of the lower back and legs, and HiResolution 90K Cochlear Implant system to restore hearing to the profoundly deaf. Boston Scientific Corporation markets its products through direct sales force, and a network of distributors and dealers.

Ultimately, Boston Scientific's continued success will depend heavily on how well it manages to maintain its market share in the face of increasingly tough competition and its serious quality-control issues, while continuing to invest in its strong development pipeline so that it will be able to compete in the next generation of medical devices.

Corporate Overview

Business and Financial Metrics

Second Quarter 2010 Results[2]

During the second quarter of 2010 Boston Scientific achieved sales of $1.928 billion, reporting GAAP earnings of $0.06 per share with adjusted EPS of $0.12. The company maintained its leadership position in the global drug-eluting stent (DES) market with 38 percent market share worldwide. The company also launched the third-generation TAXUS Elemen Paclitaxel-Eluting Coronary Stent System in the European Union and other CE Mark countries.

Net income for the quarter was $98 million, compared to $158 million in the second quarter of 2010.

Yup, I know those episodes. And, you are right. They have tuenrd the dynamic into all this concern for his addiction, NOT his pain, even if they disguise it by saying they care about his pain. And that frustrates me beyond belief.I think the thing I like about House is that he isn't all cuddly and inspirational and brave, or whatever other trope people like to throw at people who are differently abled. He's a cranky jerk (possibly the only well developed character other than Chase and Cameron, who I think are) who deals with pain, and the flaw, IMNSHO, is that those people feel free, even as doctors, to object to his care choices. They can't get past that he is happy that way, that his addiction, which doesn't affect them, is their problem, not his.

Missions &#1072r&#1077 really &#609r&#1077&#1072t. I h&#1072&#957&#1077 a pair &#1072n&#1281 I &#406&#959&#957&#1077 th&#1077m. I've never tried th&#1077 CCM vceotrs, &#1109&#959 I don't really know. B&#965t Mission w&#1072&#1109 orginally a roller hockey company &#1109&#959 th&#1077&#1091 definatley &#1072r&#1077 reliable blades. Th&#1077&#1091 &#1072&#406&#1109&#959 m&#1072k&#1077 th&#1077m a lot &#406&#1110k&#1077 hockey skates, &#1109&#959 &#1091&#959&#965 &#1072r&#1077 more comfortable &#1110n th&#1077m.

Competition

Competition in the advanced medical devices industry is limited by two factors:

  • Competitors have similarly high costs in development and manufacturing, and thus it is difficult for a company to gain a large advantage by cutting costs.
  • Competitors all have large enough capacity that meeting demand is not an issue.

Thus, the main factor that will affect the performance of Boston Scientific and its competitors is its ability to capture market share through improving the technology and performance of its devices. In this sense, Boston Scientific compares favorably to its competitors, as it has strong pipelines in both its core DES and CRM businesses, and it continues to innovate in other fields. In the CRM business, its main competitors include Medtronic (MDT) and St. Jude Medical (STJ).

Boston's heavy dependence on coronary stents leaves it vulnerable to the prospect of two new competitors, and recent studies which suggest that stents are not as useful as they were thought to be. As such, last year was especially important for Boston Scientific, as it saw the successful acquisition of Guidant, a major provider in the area of cardiovascular medical products. With this merger, Boston Scientific now has a new venue of growth that will take it away from its traditional dependence on the coronary stent market. However, Guidant has been plagued with quality issues in the past, and the ability of Boston to deal with these and its own pre-existing problems, will play a major role in the performance of the company.

However, what matters most is how well Boston's technology performs when compared with that of its competitors, specifically in clinical trials.

Boston’s products will have to compete with those of its competitors in clinical trials. A study conducted by Abbott Labs found that Abbott’s new product Xience V was more effective than Boston Scientific’s Taxus. Medtronic has also introduced a new entry into the DES market, Endeavor.

Image:USMarketShare.JPGImage:EuropeMarketShare.JPG


Pharmaceutical and Biotech Industry — Competitive Operating Metrics (2007)

 

Johnson & Johnson (JNJ)

Pfizer (PFE)

Novartis (NVS)

Abbott Laboratories (ABT)

Merck (MRK)

Wyeth (WYE)

Bristol-Meyers Squibb (BMY)

Eli Lilly (LLY)

Amgen (AMGN)

Schering-Plough (SGP)

Boston Scientific (BSX)

Biogen Idec (BIIB)

Revenue (in billions of USD)

Total Revenue

$61.10

$48.42

$38.95

$25.91

$24.20

$22.40

$19.35

$18.63

$14.77

$12.69

$8.36

$3.17

Gross Profit

$43.34

$37.18

$27.04

$14.49

$18.06

$16.09

$13.13

$14.38

$12.22

$8.29

$6.02

$2.84

Revenue Growth from 2006

14.57%

0.10%

10.94%

15.30%

6.90%

10.07%

12.12%

18.75%

3.53%

19.78%

6.85%

18.21%

Income

Net Income

$10.58

$8.14

$11.95

$3.61

$3.28

$4.62

$2.17

$2.95

$3.17

-$1.47

-$0.50

$0.64

Net Profit Margin

17.31%

17.05%

16.79%

13.92%

13.54%

20.61%

14.12%

15.85%

21.43%

-11.61%

-5.92%

20.12%

Operating Income

$13.28

$9.28

$6.78

$4.58

$3.37

$6.46

$3.53

$3.88

$3.98

-$1.22

-$0.01

$0.78

Return on Average Equity

25.60%

12.06%

14.43%

22.66%

18.33%

28.09%

19.15%

23.96%

17.19%

-22.17%

-3.26%

10.05%

Other

Employees

119,200

86,600

98,200

68,000

59,800

50,527

42,000

40,600

17,500

55,000

27,500

4,300



References

  1. PR Newswire: "Boston Scientific Announces Results for Second Quarter Ended June 30, 2010"
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