Boston Scientific profit falls due to reduced demand
Net income dropped to $142 million (€102.1m), or 9 cents a share, from $190m, or 13 cents, a year earlier, the Natick, Massachusetts- based company said Thursday. Earnings — excluding one-time items — were 15 cents a share, beating by 6 cents the average estimate of 22 analysts surveyed by Bloomberg.
Boston Scientific has been stymied by slowing demand and falling prices for its main products to treat abnormal heart rhythms and open clogged arteries. Hank Kucheman assumed the role of interim chief executive officer Thursday, a position he will hold until Michael Mahoney, former chairman of Johnson & Johnson’s medical device group, takes the helm next year.
