Boston Scientific Gives Up On Lotus Edge TAVR
The company is recalling all unused Lotus Edge inventory and will stop developing the Lotus platform while shifting resources to support its Acurate neo2 transcatheter aortic valve system. The decision will cost the company up to $300m.
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Boston Scientific’s management believes the ongoing recovery of procedure volumes and new technology will allow it to show revenue growth in the fourth quarter.
The SCOPE II results could have helped support a PMA for Acurate neo2 in 2021, but the trial missed its primary endpoint, and the REPRISE IV trial of Boston Scientific's Lotus Edge TAVR system has been delayed by COVID-19.
Boston Scientific Expects Up To $40M Impact In Q1 From Coronavirus Outbreak; 10%-12% Revenue Increase For 2020
Boston Scientific said in an earnings call it expects the coronavirus outbreak may lead to a $10m to $40m loss in first-quarter sales as a result of lower procedures volumes and disrupted supply chains in China. For the fourth quarter, Boston Scientific reported $2.9bn in sales.