Boston Scientific reports third quarter fiscal results

Boston Scientific has hailed the "good progress" made by its business during the last three months in its financial report for the third quarter of 2010.

During the period, the medical technology company was able to achieve sales of $1.9 billion (1.2 billion pounds), as well as record an earnings-per-share figure that exceeded its guidance.

It saw continued success in the global drug-eluting stent market, in which it remains the sector leader, holding a 37 per cent share.

Other achievements noted during the three months ending on September 30th 2010 were regulatory approvals for the firm's cardiac resynchronisation therapy defibrillator systems and Promus Element stent, as well as the signing of an agreement to acquire Asthmatx.

Ray Elliott, president and chief executive officer of Boston Scientific, said: "We made good progress toward the execution of both our strategic plan and the necessary financial discipline, which resulted in a strong operating performance despite the challenges facing our industry."

Last week, the company launched the Journey Guidewire, a new device which facilitates challenging peripheral angioplasty interventions.