Earnings 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
Earnings Up for St. Jude and Edwards, but Down for Boston Scientific

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.

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