Every day they grow their debt this dog gets nearer to bankruptcy. The problems these stock board messages reflect are only the tip of the iceburg. Things are going to get much worse for BSX next week.
Boston better hope they get Guidant because a J&J Guidant team will destroy Boston. They are already losing market share, and they know that profit margins are shrinking. Boston can't handle a price war like J&J deep pockets can. Never mind the fact that theres a lot of new competitors coming in. Boston will raise the bid because they know if they don't get Guidant they are done for.
But where things stand now, there's no real impetus to go out and buy, especially when January has historically been a down month for stocks. So while the week ahead may see some window-dress selling here and there, there's no market-moving news expected, and simply no real reason to own it.
When will the FDA impose fines and shut them down? Maybe they can pay someone off.
Boston Scientific shipping problems 'serious' -FDA
By Susan Heavey
WASHINGTON, (Reuters) - Boston Scientific Corp.'s (BSX.N: Quote, Profile, Research) distribution process has "serious" problems that allowed flawed medical devices to be shipped, including its Taxus drug-coated stent, U.S. regulators said in a letter made public on Tuesday.
FDA inspectors said the company failed to properly monitor products so that only acceptable devices were distributed, according to the letter. The warning, which also targeted the device maker's Vaxcel chest ports and Symmetry catheter, is the latest setback for the device maker after a string of manufacturing-related product recalls and other FDA warnings.
It renewed worries about the beleaguered company which has been hit hard during the last year with a series of manufacturing-related problems, they said.
"We do not dispute that some of these mistakes occurred," Rudnick said.
The latest FDA warning letter followed an inspection of Boston Scientific's Quincy, Massachusetts, shipping facility that ended in May.
Agency inspectors said the company did not have adequate management oversight to review quality and "failed to implement procedures to assure that only devices approved for release are distributed."
It also did not properly document corrective actions or review data that could help pinpoint problems.
"On a number of occasions, your firm shipped medical devices that were not considered acceptable for release," it said. The letter did not mention any impact on patients and an FDA spokeswoman was not available for comment.
Eight hundred Taxus heart stents that failed a quality test were sent to hospitals
Poor little downer is so pathetic she has no sense of humor at all. It must be the beatings of mean old pebble. Start the new year right and get away from him. There are shelters and programs for you.
How unfortunate that the management seems to be greasing the palms of their friends hands with the bagholders money, at a time when they can ill afford to waste any more. Seems they have no regard for shareholders at all, they will buy Guidant's lawsuits at any cost because they probably intend to file for bankruptcy to get rid of the angry bagholders along with the debt.
This is a damaged company soft sales are not good but the 3 year chart indicates a sell, at best it has a loooong consolidation period as there are a lot of holders waiting to get out just to break even. No catalyst to go higher, and plenty of bad news Why is this loser so high anyways? What are they going to sell now that they can't steal pattents any more?<br>Anybody considering buying at these levels is just asking to lose money, the insiders are bailing for some reason. The chart is forming a flush turd formation. The lawsuits and fact that this company is incapable of developing any kind of product other than what they can steal is just icing on the cake. If you must buy trash wait till it hits $6 then it may be worth speculating. This company needs to pay back the money they got from shareholders while they where stealing other companies ideas, while the insiders where selling stock, and leading us to believe they could actually come up with their own products. BSX will probably have to pay residual payments and punitive damages untill they file for BK. They better hope theirs no mistakes or more lawsuits coming, not much cash left after this atrocity. This stock might be worth a gamble at $6, until then get out while its so high, this high price is a gift, take the money and run. There will soon be tremendous pressure to dump this stock. From Jim Tobin's book, "The Getaway: How to Legally Fleece Shareholders
1) steal patents, reverse engineer proprietary manufacturing devices
2) pump stock up with tremendous revenue from the theft of above<br>3) dump your options onto the suckers to the tune of $100MM+
4) litigate and lose, "hey we tried!"
5) resign when the pipeline is INJUNCTED and stock hits $10, "new challenges ahead, thank you all for this great opportunity!!!"The government looked into hip replacement price fixing. They found doctors used a certain brand of replacement without price checking, so Medicare will now only cover about 1/2 the cost of the price today. That means less sales and less profit on what they sell if they get in a price war. <br>What happens if this bleeds over into stents? The government may feel all stents are equal and cut their payments, ergo, we have to cut price to compete with J&J. Who has the deeper pockets? Not good!
Thats true one more slip up and The FDA will shut them down I think it will make the company hard pressed to stay out of BK.
Second FDA warning for Boston Scientific over Vaxcel line
Wednesday August 17, 11:32 am ET
Following a second warning from the U.S. Food and Drug Administration about quality controls at Boston Scientific Corp.'s manufacturing plant in Glens Falls
Boston Scientific shares fall on FDA warning
Tuesday August 23, 5:01 pm ET
A spokesman for Boston Scientific Corp. on Tuesday said the company had already identified the shipping mistakes cited in a warning by the U.S. Food and Drug Administration.
In one of the shipments, which involved eight Taxus Express stents that failed to meet quality tests,