Boston Scientific Corp.

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Products, Other Pre-Announcement

Boston Scientific Announces Lotus Edge Aortic Valve System Voluntary Recall And Product Discontinuation

Published: 11/17/2020 11:31 GMT
Boston Scientific Corp (BSX) - Boston Scientific Announces Lotus Edge™ Aortic Valve System Voluntary Recall and Product Discontinuation.
Boston Scientific - Initiated Recall of Lotus Edge Aortic Valve System Due to Complexities Associated With Product Delivery System.
Boston Scientific - Voluntary Recall Related Solely to Delivery System, Valve Continues to Achieve Positive, Clinically Effective Performance Post-implant.
Boston Scientific - There is No Safety Issue for Patients Who Currently Have an Implanted Lotus Edge Valve.
Boston Scientific Corp - Chosen to Retire Entire Lotus Product Platform Immediately.
Boston Scientific - All Related Commercial, Clinical, Research & Development & Manufacturing Activities Related to Lotus Product Platform to Also Cease.
Boston Scientific - Product Discontinuation Decision Expected to Result in Estimated Total Pre-tax GAAP Charges of About $225 Million to $300 Million.
Boston Scientific - Vast Majority of Charges Will Be Recorded During Q4 of 2020.
Boston Scientific - Product Discontinuation Decision to Be Accretive to GAAP & Adjusted Earnings per Share in 2021 by About 1 to 2 Cents & Neutral Thereafter.