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Boston Scientific experiences downturn

1st April 2009

Boston Scientific has had a “tough” few days, according to one industry expert.

Michael Weinstein, analyst from J P Morgan, made this comment in a note to clients after it was revealed that the company’s Taxus medical device did not perform as well in trials as Abbott’s drug-eluting stents, explained Reuters.

After the results were publicised over the weekend, Boston Scientific’s shares fell almost four per cent on Monday 30th March.

“This weekend’s session was tough on Boston Scientific, with Taxus on the short end of a handful of presentations,” Mr Weinstein commented, according to the news agency.

“That being said, Boston should be able to continue to participate in Xience’s share gains through Promus, blunting the impact of any further decline in Taxus’ share position.”

For over 25 years, the company has developed innovative products, technologies and services across a wide range of medical specialities.

As well as distributing its products in around 45 countries, it now employs more than 25,000 people and has 26 manufacturing, distribution and technology centres.

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