Boston, MA 04/16/2014 (wallstreetpr) – Boston Scientific Corporation (NYSE:BSX) was once most cherished research and marketing pharmaceutical company of the U.S. pharmaceutical industry. Boston Scientific purchased rival Guidant Corp. for $ 27.3 billion in year 2006. Since then Boston Scientific was accused of paying a hefty premium for accusation and also the revenues for the company have not increased. But finally things have started turning up in the favor of Boston Scientific, company witnessed an increase in revenue. The company reported revenue of $1838 million for Q4 2013while for the same period in the year 2012 the company reported revenue of $1820 million.
FDA Approval of Next Generation Devices
Food and Drug Administration has approved four new generation devices of the company manufactured for heart patients; namely Inogen X4 CRT-Ds,Dynagen X4,Inogen Mini ICDs and Dynagen Mini. Adding to company’s portfolio of defibrillators these new ICDs are worlds thinnest and smallest defibrillator devices and are up to 20%smaller in size and are better for preventing heart failures and cardiac arrests in patients suffering from abnormal heartbeat rate.Prof. Hans-Joachim Trappe, Hospital of Ruhr-University, Germany said that these new devices are helpful to patients and most importantly to patients who have smaller time frame.Also, the X4 series of CRTs is equipped to capture high thresholds and provides 70% more pacing options. Vice President of Boston Scientific, Joe Fitzgerald also said that the new devices will offer better outcomes and reduce the number of complications and will also decrease the cost of treatment.
Also, an injunction against Boston Scientific against its product Guidezilla was removed by a U.S. appeals court. In May 2013, a lawsuit was filed by Vascular Solutions, Inc. (NASDAQ:VASC) against Boston Scientific Corporation (NYSE:BSX) for violating three patents. Guidezilla is a catheter drug and Vascular alleged that Guidezilla was a copy of its Guideliner catheter. However, the court ruled in favour of Boston Scientific stating that, at this stage, there are too many unresolved issues in the case.
