For nearly four years Boston Scientific Corporation(NYSE:BSX) continued work on experiments for Watchman device to treat patients with erratic heart rates. Company recently disclosed that the device showed remarkable results in clinical trial in patients.
Following the development company expects to capitalize on a 500 million US dollars market.Results showed that patients using Watchman had 40 % less possibility to have a stroke.Boston expects healthy demand in Europe, company’s chief executive officer Michael Mahoney said in an interview.
Company intends to reverse the losses incurred in the second half of 2013 by launching Watchman if it gets approval from the United States Food and Drug Administration. Boston gets nearly half of its annual revenue from sale of cardiac devices. The FDA application will be filed by the end of the month and decision will be finalized by the first quarter of 2013.
Stock of Boston Scientific Corporation(NYSE:BSX) advanced 1.81% in last trading session and is closed $8.30 with average volume 17.79 million shares, in afterhours trading BSX stock fell -0.37%.
Boston Scientific Corporation generated income of -4535.00 million in last twelve months and sales of $7.14 billion.
Analytic Ratios; Price to sales ratio of BSX in past twelve months was calculated as 1.83 and price to cash ratio as 48.88. BSX return on equity ratio is recorded as -50.67% and its return on assets is -23.90%.