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On October 26, 2023, Boston Scientific (NYSE: BSX), a global medical technology giant, released its financial report for the third quarter of 2023. The report shows,The company's net sales in the third quarter reached $3.527 billion,Compared with the same period last year, the reported growth rate was 11.2%, the operational growth rate was 11.1%, and the organic growth rate was 10.2%.
Boston Scientific Corporation Chairman and CEO Mike Mahoney stated that the company achieved another strong growth in the third quarter, thanks to the hard work of the global team and its differentiated medical technology. Supported by its category leadership strategy, robust innovation pipeline, and commercial execution, Boston Scientific is poised for long-term favorable development.
# Third Quarter Financial Results
In the third quarter of 2023, Boston Scientific reported net sales of $3.527 billion, representing an increase of 11.2% on a reported basis compared to the company’s expected range of 8.5% to 10.5%, an increase of 11.1% on an operational basis, and organic growth of 10.2% compared to the company’s expected range of 7% to 9%, with all figures compared to the same period last year.By business division,Boston Scientific's MedSurg division grows 10.6% on a reported basis，An increase of 10.0% over the operational baseline, with organic growth of 9.4%; andCardiovascular department (Cardiovascular) increased by 11.6% over the report baseline, an increase of 11.7% over the operational baseline and 10.6% in organic growth.
▲MedSurg Pipeline Net Revenue
▲Cardiovascular PipelineNet Revenue
By region, the company achieved 8.5% sales growth in the United States, 14.7% sales growth in Europe, the Middle East, and Africa (EMEA), 14.8% sales growth in the Asia-Pacific region (APAC), 22.0% sales growth in Latin America and Canada (LACA), and 14.4% sales growth in emerging markets.
# Recent Development Trends of the Company
In August this year, the company announced the positive 12-month results of the ADVENT pivotal clinical trial for the FARAPULSE™ Pulsed Field Ablation (PFA) system, meeting the primary safety and efficacy endpoints and demonstrating that the FARAPULSE PFA system is non-inferior to standard-of-care therapies.POLARx™ Cryoablation Balloon Receives U.S. Food and Drug Administration (FDA) Approval, Including the POLARx FIT Cryoablation Balloon Catheter for the Treatment of Patients with Paroxysmal Atrial Fibrillation (AF).In September this year, Boston Scientific Corporation announced the acquisition of Relievant Medsystems, Inc., a medical technology company that has developed and commercialized the Intracept® device, the only FDA-approved treatment for chronic vertebral-related lower back pain.Launch of the Latest Generation WATCHMAN FLX™ Pro Left Atrial Appendage Closure Device (LAAC) Approved by the U.S. FDA: Designed to Enhance Visualization During Device Placement, Reduce Device-Related Post-Implant Thrombus, and Provide Treatment for a Wider Range of Patient Anatomies.In September, AVVIGO™+ Multimodal Guidance System received FDA clearance in the United States. The product had already been granted the CE Mark and approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA). The system utilizes next-generation technology to deliver high-quality intravascular ultrasound (IVUS) imaging and coronary physiological assessment of vessels and lesions.In October, the launch of the next-generation LUX-Dx II/II+™ Insertable Cardiac Monitor (ICM) System was announced for long-term monitoring of arrhythmias.Announcement of U.S. FDA Approval for Expanded Indications of the WaveWriter Alpha™ Spinal Cord Stimulator (SCS) System for the Treatment of Painful Diabetic Peripheral Neuropathy (DPN).Positive data were announced at the Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, demonstrating that the AGENT™ Drug-Coated Balloon has a statistical advantage over uncoated balloon angioplasty in treating patients with in-stent restenosis.
# 2023 Full-Year and Fourth Quarter Guidance
Boston Scientific Corporation currently expects net sales for the full year 2023 to increase by approximately 11% compared to the same period last year, on both a reported and organic basis. The full-year organic net sales guidance excludes the impact of foreign exchange fluctuations and the net sales effect from acquisitions and divestitures, as the net sales from acquisitions and divestitures are less than the comparable net sales for the entire period. The company currently estimates GAAP earnings per share to be between $1.00 and $1.04, with adjusted earnings per share between $1.99 and $2.02.The Company expects net sales in the fourth quarter of 2023 to increase by approximately 9% to 11% compared to the same period last year on a reported basis and by approximately 8% to 10% on an organic basis. Additionally, the Company expects GAAP earnings per share to be between $0.26 and $0.30, and adjusted earnings per share to be between $0.49 and $0.52.
# About Boston Scientific Corporation
Boston Scientific was founded in 1979, with its headquarters in Natick, Massachusetts, USA. It is a global leading medical technology company. In 1997, Boston Scientific entered China, establishing branch offices and R&D centers in Beijing, Shanghai, and Guangzhou. The company's headquarters in China is located in Shanghai. Boston Scientific has more than 17,000 products and has been granted over 16,000 authorized patents worldwide. In May 1992, Boston Scientific was successfully listed on the New York Stock Exchange. In 2013, Boston Scientific's R&D investment reached 861 million US dollars, making it one of the medical device companies with the highest R&D investment globally.
Editor-in-Chief | Zhao Qing Reviewed by | Yi He Typeset by | Miya
