Sign up for the QMED & MD+DI Daily newsletter.
Earnings Up for St. Jude and Edwards, but Down for Boston ScientificEarnings Up for St. Jude and Edwards, but Down for Boston Scientific
St. Jude Medical and Edwards Lifesciences both reported third-quarter profits, while Boston Scientific posted a loss for the quarter, thanks to declining stent sales. St. Jude's profit was up 21% from the same period a year ago, helped by Boston Scientific's inability to introduce new cardiac rhythm management products due to a "corporate warning letter" from FDA. That has now been lifted, so St. Jude faces tougher competition in the coming quarters.
October 22, 2008
1 Min Read
.svg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "MDDI")
Edwards' profits were up 13% over the same period a year ago, thanks to strong sales numbers in heart valves, critical care products, and cardiac surgery systems. Meanwhile, Boston Scientific lost $62 million in the third quarter, though that is better than the $272 million loss it took for the same period a year ago. Most of the difference was due to fewer one-time charges. But its stent sales are down 11% from a year ago, as Abbott and Medtronic introduced new drug-eluting stents into the U.S. market in the interim.
You May Also Like
.png?width=300&auto=webp&quality=80&disable=upscale)