Boston Scientific shows uptick in preliminary 2003 results

Interventional device developer Boston Scientific of Natick, MA, has released preliminary results for its fiscal fourth quarter and 2003.

On the basis of unaudited numbers, the firm said sales for the fourth quarter (end-December 31) were $939 million, a 15% increase compared with $814 million for the fourth quarter of 2002. Excluding the impact of $57 million of foreign currency fluctuations, preliminary sales were $882 million, an 8% increase compared with the same quarter the previous year, the company said.

Preliminary sales for the fiscal year were $3.48 billion, a 19% increase compared with $2.92 billion posted in 2002. Excluding the impact of $162 million of foreign currency fluctuations, preliminary sales were $3.32 billion, a 14% increase compared with 2002 sales.

In other news, an inspection team from the Food and Drug Administration indicated its intention to recommend to the FDA that Boston Scientific’s Galway, Ireland, drug-eluting stent manufacturing facility be approved to manufacture the Taxus Express2 paclitaxel-eluting coronary stent system for the U.S. market, according to the firm.

The inspection was the first of two the FDA plans to conduct. The second is scheduled to take place at the company’s facility in Maple Grove, MN, during the first week of February, Boston Scientific said.

By AuntMinnie.com staff writers
January 14, 2004

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