Boston Scientific Beats Wall Street Expectations in Q3

Recent acquisitions and positive clinical trial results could bode well for the future, too.  

Qmed Staff

Boston Scientific beat Wall Street's expectations in the third quarter of 2016, growing organic revenue 9% thanks to strong performance in its cardiovascular and medsurg segments, as well as growth in international markets.

Sales of the company's cardiovascular products grew 12%, and CEO and chairman Michael Mahoney called out successful products including the Lotus transcatheter aortic valve and Watchman left atrial appendage closure device.

" . . . [W]e are driving growth via our unique innovative platform technologies, and they're resonating with physicians and are supported by the strength of our commercial teams," Mahoney said said according to a Seeking Alpha transcript of the company's October 26 earnings call.

He also touted positive results from clinical trials involving the Eluvia drug-eluting stent and Ranger drug-coated balloon, both of which have the CE Mark.

"We're excited to be the only company investing in the complete portfolio of drug-eluting therapies," Maloney said.

Sales in the company's medsurg segment, which includes its endoscopy, urology and pelvic health, and neuromodulation products, rose 10%. During the third quarter, the company added two acquisitions to that portfolio: EndoChoice, whose products include endoscopic imaging systems, devices, and infection control products, and Cosman Medical, maker of radiofrequency ablation systems for treatment of chronic pain. 

Internationally, sales in emerging markets climbed 19%, driven by growth in China and Latin America. 

Like what you're reading? Subscribe to our daily e-newsletter.

[Photo Credit: iStockphoto.com user jscreationzs]