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Home Industry News Boston Scientific announces record sales

Boston Scientific announces record sales

19th April 2006

Boston Scientific, a medical manufacturer and marketer, has posted net sales of $1.62 billion – the highest quarterly total in the firm’s history.

Commenting on the quarterly figures, Jim Tobin, president and chief executive officer at Boston Scientific, said that the company was pleased with the figures, noting in particular the year-over-year growth from its Endosurgery Group.

Overall, the manufacturer saw net sales increase by three per cent, although this figure excludes currency fluctuations.

Today also saw Mr Tobin highlight the sequential growth in sales of Boston Scientific’s Taxus stent system, which have increased from $606 million to $633 million over the course of the first quarter, and stated that the firm’s results would provide a “solid foundation” for Boston Scientific’s acquisition of Guidant, a developer of cardiovascular medical products.

Boston Scientific also announced that it has enjoyed record drug-eluting stent sales in markets outside of the US.

However, the manufacturer also announced today that net income was down by $26 million when compared to the same period last year.

Boston Scientific, which was established in 1979, employs around 20,000 people. It saw revenues of over $6 billion in 2005.

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