Boston Scientific Stent Slowdown

Third-quarter sales look light.
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Boston Scientific (BSX) - Get Report forecast a third-quarter sales shortfall, citing a slowdown in drug-eluting stent sales.

The Natick, Mass., heart device company said it expects to make 15 to 19 cents a share for the quarter ending Sept. 30, excluding certain items. Sales should be around $2 billion.

Analysts surveyed by Thomson Financial were looking for a 16-cent profit on sales of $2.17 billion.

Cardiac rhythm management sales should be around $435 million, including $220 million worth of U.S. implantable cardioverter defibrillator sales. "During the quarter we believe the overall CRM market experienced some contraction, which is reflected in our results," Boston Scientific said.

The company projected Taxus drug-eluting coronary stent systems sales of around $565 million, including $375 million in the U.S. "During the quarter we have seen some slowdown in the growth in penetration of drug-eluting stents outside the U.S., and some retrenchment in the U.S. drug- eluting stent market," the company said. "However, we believe our U.S. market share remains stable."