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News Breaks
April 2, 2014
05:23 EDTBSXBoston Scientific reports favorable results in MADIT-CRT study
Boston Scientific reported favorable results in studies related to cardiac resynchronization therapy, or CRT, platinum chromium stent platforms and transcatheter aortic valve replacement, or TAVR. Boston Scientific announced significant findings from the continued analysis of the landmark MADIT-CRT study, demonstrating a significant and sustained survival benefit in the indicated population. The long-term results demonstrated a 41% relative reduction in the risk of death in patients who received a Boston Scientific defibrillator with CRT compared to patients who received a defibrillator alone. In addition to the mortality benefit, the results demonstrate that these patients experienced a 62% relative reduction in the risk of experiencing a first heart failure event when compared to patients who didn't receive CRT therapy. Boston Scientific released new data that continue to reinforce the advantages of platinum chromium stents. The trial compared the safety and effectiveness of the Boston Scientific Platinum Chromium Everolimus-Eluting Stent System, or PtCr EES, to the Abbott Laboratories Cobalt Chromium Everolimus-Eluting Stent System, or CoCr EES. The results show low event rates out to four years with PtCr EES confirming excellent long-term performance. At four years, the PtCr EES also continued to demonstrate advantages over the CoCr EES. The Boston Scientific Lotus Valve System advanced TAVR technology continued to demonstrate impressive performance at three months.
News For BSX From The Last 14 Days
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September 2, 2015
13:21 EDTBSXHeartWare plunges after Valtech deal sparks downgrades
Shares of HeartWare (HTWR) have plunged after the company's acquisition of cardiac device maker Valtech, with multiple analysts struggling to find any particularly strong rationale for the deal. WHAT'S NEW: Raymond James' Jayson Bedford downgraded HeartWare to Market Perform from Outperform after the company announced Tuesday night that it agreed to acquire Valtech Cardio, an Israeli-based company focusing on heart valve devices. Bedford said he was "surprised" by the size of the deal, noting that the all-stock transaction is valued at roughly $430M and will see Valtech owning roughly 22% of HeartWare upon closing. The acquisition is simply not what Bedford "envisioned" for the company, said the analyst. His prior investment thesis was based upon HeartWare's potential to dominate the ventricular assist device market, an idea "validated" by St. Jude's (STJ) pending acquisition of Thoratec (THOR), said Bedford. That thesis has now been disrupted by last night's early-stage asset buy at a "steep price," raising the overall execution risk of HeartWare, the analyst tells investors. WHAT'S NOTABLE: HeartWare was also hit with a downgrade to Neutral by BTIG, with the research firm emphasizing that the transaction will bring significant dilution to the company's existing shareholders. Northland's Suraj Kalia was even more bearish this morning, saying that the acquisition "does not make sense," coming at an "astronomical" multiple for an asset with "no obvious complementarity" and different domain expertise. Valtech's Cardioband CE study involved just 45 patients and only 40% of those were followed up at twelve months, said Kalia, who contended that the study does not present an accurate picture of clinical viability. Heartware will have to invest "significantly" to get Valtech's technology through U.S. trials, said the analyst, and entering the transcatheter mitral valve repair market will also bring new competition in the form of Edwards (EW), Medtronic (MDT), Boston Scientific (BSX), St. Jude and Abbott (ABT). PRICE ACTION: Shares of HeartWare have dropped more than 19% in intraday trading to $65.98, dipping below their 52-week low in the process.
September 1, 2015
16:17 EDTBSXNevro submits preliminary response to PTAB in patent case with Boston Scientific
Nevro (NVRO) announced that the company has submitted its preliminary response to the Patent Trial and Appeals Board, or PTAB, in response to two petitions for inter partes review, or IPR, filed by a unit of Boston Scientific (BSX), challenging the validity of certain claims in U.S. Patent No. 8,359,102, one of Nevro's 55 issued U.S. patents directed to Nevro's innovations in the neuromodulation field. The preliminary response is limited in scope by the rules governing the IPR process. The response is limited to setting forth the reasons why an IPR should not be instituted and cannot argue the merits or include any new testimonial evidence. By the rules governing the IPR process, the next step will be a decision by the PTAB to either institute or deny review of the petition. That determination is expected by December 1, Nevro said.
August 27, 2015
10:00 EDTBSXOn The Fly: Analyst Upgrade Summary
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06:12 EDTBSXBoston Scientific upgraded to Buy on valuation at Goldman
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August 24, 2015
16:32 EDTBSXBoston Scientific announces CE Mark for MRI labeling for ICD, CRT-D systems
Boston Scientific has received CE Mark on magnetic resonance imaging conditional labeling for the current family of EL and MINI implantable cardioverter defibrillator and the X4 cardiac resynchronization therapy defibrillator systems. This revised labeling ensures that future patients and those already implanted with these systems are able to undergo MRI scans if indicated.

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