Boston Scientific reports $830M year-over-year sales decline
Photo | TMS Aerial Solutions
Boston Scientific's Marlborough headquarters
Boston Scientific reported an $830 million decline in net sales for 2020 compared to the previous year.
The Marlborough medical device manufacturer reported $9.91 billion in preliminary, unaudited net sales for 2020, down approximately 7.7% from 2019’s net sales. The company’s fourth quarter decline was slightly less, with $2.71 billion in sales placing the company 6.8% below numbers for the fourth quarter of 2019.
The company experienced sales declines for the years across the board, with specialty pharmaceuticals being the only line to show gains, growing from $80 million to $220 million. Those sales were the product of BTG Specialty Pharmaceuticals, which Boston Scientific has announced it will sell for $800 million.
The company's stock fell 3% in trading on Tuesday, to $35.31 per share, following the sales number announcement. It has since regained nearly all those losses.
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