Boston Scientific outperforms in sales; spends $618M on litigation
Courtesy Boston Scientific
Boston Scientific's Global Headquarters are located in Marlborough.
Boston Scientific continues to press forward with more than $2 billion in sales in the second quarter of the year, growing adjusted earnings year-over-year despite $618 million in litigation costs.
The Marlborough medical device manufacturer reported $2.126 billion in sales in the second quarter, a 15 percent year-over-year jump. Adjusted earnings per share were 27 cents compared to 22 cents for the second quarter of 2015.
Boston Scientific CEO Mike Mahoney credited the company’s deep portfolio and ongoing innovation as contributing to the company’s continued momentum.
The company did, however, report a GAAP loss of 15 cents per share compared to the company’s guidance of 12 to 15 cents per share. This was due primarily to litigation charges, according to the company, with $628 million spent in the first six months of the year compared to $192 million for the same time in the previous year.
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