This Natick, MA-based medical devices manufacturer slogged through a year marked by product and legal setbacks.
In March 2010, Boston Scientific halted shipments and voluntarily recalled unused units of its implantable cardiac defibrillators after the company changed its manufacturing procedures without properly notifying federal regulators. The month-long recall of the devices, which typically generate about 15% of its revenue, hurt its bottom line. It also hurt the company's 29% share of the $4.3 billion U.S. market for ICDs. On top of that, Boston Scientific was hit by a $1.7 billion payment to a unit of Johnson & Johnson to settle patent disputes.
Looking forward, the second-largest make of heart devices sees several challenges ahead, including uncertainty around a U.S. Department of Justice investigation into the proper use of defibrillators.
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