BSX products killing people again..
Hospital's Suspension of Boston
Scientific Stent Gets FDA Review
By SYLVIA PAGAN WESTPHAL
Staff Reporter of THE WALL STREET JOURNAL
November 14, 2005
The Food and Drug Administration says it is evaluating a situation in which a leading center for implanting cardiac stents suspended use of a Boston Scientific Corp. device after patients suffered arterial injuries.
The incident led to a dispute in which a Beaumont doctor emailed the FDA, questioning the stent's safety and said the company mischaracterized the matter's resolution.
Julie Zawisza, an FDA spokeswoman, said the agency was "in the middle of evaluating the situation in Michigan and looking at some of the questions that were raised as a result of that."
Boston Scientific told the agency the issue at the hospital was solved. "This is not anywhere close to truth or reality," Dr. Goldstein wrote. "We are very concerned that the withdrawal problems with the Taxus have not been solved."
Responding to Dr. Goldstein's email, Ms. Lochner wrote: "I can assure you that FDA does not consider this situation to be a 'closed' matter."
According to an analysis commissioned by Boston Scientific, the FDA received reports of Taxus withdrawal difficulties many patients
This company has too many lawsuits, they can't even afford the lawyers bills. Not much money left in the kitty after all this waste.
The stock will slowly drift lower until the bankruptcy. The company can't handle that amount of debt. The management will rape shareholders and file bankruptcy for sure.
..Yes, unfortunatly broke support again, the stock could fall into the teens on a technical basis, on a fundamental basis theres too much debt, looking at the news...hmm not good at all...
Looks like the pump and dumpers got stuck, they can't even pump it up at all, and now they want out bad. Better get out fast, bankruptcy is coming for this company, they are so desparate to buy a company with a product they will pay much higher prices for Guidant, hell Guidant should ask for more money, BSX will pay more, they don't care they are probably just going to file bankruptcy to get rid of all the debt anyway.
Now let me see if I have this right. BSX wants to buy Guidant even though J&J decided they don't want them after doing some research.
BSX wants to take over Guidants product failures, lawsuits and recalls so they can be the leader in medical equipment recalls. But BSX has too much debt and can't afford Guidant so they will screw over current shareholders by diluting their value, and ruin their credit, possibly to make it easier for the FDA to shut them down in one fell swoop. But Guidant would have to pay J&J shareholders $650 million for not closing the deal, that BSX shareholders would pay for. BSX shares will fall much lower so now is the time to screw the Guidant shareholders with this deal. I think I got it.
More deaths for Guidant. They are a perfect fit for BSX.
BOSTON (AP) -- If Boston Scientific Corp. prevails in a bidding war for rival medical device maker Guidant Corp., the $25 billion deal would quadruple its debt load, hurt its near-term earnings and add to the company's recent legal and regulatory troubles.
Any deal that results from Boston Scientific's offer Monday is expected to siphon away earnings over the next two years or more.
Boston Scientific's offer has drawn the interest of debt rating agencies. Moody's Investors Service and Standard & Poor's are reviewing Boston Scientific for a possible downgrade, and Fitch Ratings placed Boston Scientific on a ratings watch.
Boston Scientific officials say the company's debt would grow to about $10.5 billion if the deal closes, including large existing debt.
Boston Scientific says it's prepared to inherit the legal woes at Guidant, which acknowledged in a regulatory filing last month that it faced nearly four dozen product liability class action lawsuits, 50 individual lawsuits, as many as a dozen securities fraud lawsuits and regulatory investigations.
Boston Scientific, meanwhile, recalled nearly 100,000 units of its stents last year because of a manufacturing defect. In September, Boston Scientific agreed to pay a $750 million legal settlement to a former business partner. It also has faced other recent recalls, and a federal inspection that found manufacturing problems
Only more examples of your pompous self-centeredness. Everything negative about BSX is because of JNJ influence. Every comment you make is either self-gratifying, or stunningly one-sided. You initiated the personal attacks. What a fraud. What a hypocrite.
It is just amazing how difficult it is for some to see themselves.
The bad part is BSX is diluting the poor bagholders shares to buy GDT (they are paying way too much) and the GDT shareholders are going to immeadiatly dump this pos stock, thats going to be a lot of selling pressure on extra shares. Bagholders are getting nothing but dilution and debt.