Boston Scientific sees profits triple

Boston Scientific said second-quarter profit almost tripled following the first full quarter of sales from its Taxus drug-coated device in the US.

Net income climbed to €258 million ($313m) from €94m ($114m) a year earlier, the company said in a statement.

Revenue surged 71% to €1.2bn ($1.46bn).

Profit rose even after Boston Scientific reversed €29m ($35m) in sales and took a €35.4m ($43m) inventory writedown because of a recall.

Chief executive Jim Tobin recalled Taxus stents twice this month after failures in the delivery system were linked to three deaths.

Before the recall, the company had grabbed 70% of the US market from Johnson & Johnson.