November 6, 2009
BSX Settles Case
Natick-based medical device maker Boston Scientific has agreed to pay $296 million to settle a U.S. Department of Justice case against a company that it acquired in 2006.
As part of the agreement, the subsidiary company, Guidant, will plead guilty to two misdemeanor charges related to failing to include information in reports to the U.S. Food and Drug Administration. The violation occurred in 2005, before BSX bought the company.
Boston Scientific updated its third-quarter results to include a $294 million charge, reflecting the settlement and a $2 million reversal of a related accrual.
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