Med Tech Earnings Calls In Brief

Taxus, Express 2 recall update: Boston Scientific's 96,000 unit recall of Taxus paclitaxel-eluting and Express2 stents is "complete in the field and restocking has been completed" in the U.S., VP-Cardiovascular Paul LaViolette states in a Q2 earnings call July 27. "The recall process in labs...represent[s] a little over 1,200 total accounts. We have shipped over 40,000 replenishment units over the past several days and that has gone back to about 97% of all accounts that had originally held any Taxus inventory. Forty-eight hours of activity allowed us to restock" the U.S., he added (1"The Gray Sheet" July 26, 2004, p. 10). High-profile hospital Brigham & Women's in Boston resumed use of Taxus the week of July 26. The firm also stated FDA's inspection of its Maple Grove, Minn. facility in response to the recall concluded July 22 with zero Form-483 observations. Boston Scientific revenue rose 71% to $1.46 bil. in Q2, due primarily to increased Taxus sales. The product brought in $597 mil. in worldwide sales and represented 92% of the firm's total stent revenue. In the U.S., Taxus sales totaled $468.4 mil. in Q2, despite the recall...