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Boston Scientific
Boston Scientific Announces Third Quarter Adjustments
October 25th, 2008
Boston Scientific (NYSE:BSX) announced it expects to record the following adjustments to its third quarter results, which it plans to report on October 23rd. As previously disclosed, the Company received a $250 million milestone payment from Abbott Laboratories (NYSE:ABT) in July, related to Abbott's 2006 acquisition of Guidant's vascular intervention and endovascular solutions businesses. As a result, the Company expects to record a pre-tax operating gain of $250 million ($184 million after tax or approximately $0.12 per share) in the third quarter. The Company has used the proceeds of the milestone payment and cash flow to retire $500 million of debt in the third...
Source: Law & Health Weekly (2008-10-25)
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