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In 2015, $BSX's gross profit was $5.304Bil vs. $5.170Bil in 2014. As a percentage of net sales, gross profit rose to 70.9% vs. 70.1% in 2014. The increase in gross profit margin primarily resulted from manufacturing cost reductions as a result of restructuring and other process improvement programs.
Healthcare solutions firm $BSX said its 4Q17 sales is estimated to have grown about 8% YoY, on a reported basis, to $2.41Bil. In the whole of fiscal 2017, sales advanced 8% annually to $9.05Bil. The growth reflects strong sales performance by all product groups.
$BSX appointed Desiree Ralls-Morrison as SVP, general counsel and corporate secretary. Ralls-Morrison will join $BSX on Nov. 30, 2017, as a member of the executive committee. Ralls-Morrison will succeed Timothy Pratt, EVP, general counsel and corporate secretary, who announced his intention to retire from the company in April 2017.
$BSX agreed to acquire privately-held Apama Medical Inc. for $175MM in cash upfront and a maximum of $125MM in contingent payments over 2018-2020 based on achievements of clinical and regulatory milestones. Closure is expected in 4Q17. The deal is expected to be immaterial to adjusted EPS for 2017 and 2018 but more dilutive on a GAAP basis.
$BSX announced new data from the Multisensor Chronic Evaluation in Ambulatory Heart Failure Patients study evaluating the performance of the HeartLogic Heart Failure Diagnostic to predict impending heart failure decompensation. The data demonstrate alert improves heart failure risk prediction.
$BSX announced results from a 3-year follow-up cohort in its Post-FDA Approval Clinical Trial Evaluating Bronchial Thermoplasty in Severe Persistent Asthma (PAS2) study. The patients with severe asthma show sustained clinical improvement and the data confirmed long-term effectiveness of Bronchial Thermoplasty.
$BSX received CE mark for the Vercise Gevia Deep Brain Stimulation (DBS) System, a rechargeable, magnetic resonance (MR) conditional device indicated for the treatment of movement disorder symptoms in patients with Parkinson's disease, dystonia and essential tremor.
$BSX announced positive results from the Post Approval Clinical Trial Evaluating Bronchial Thermoplasty (BT) in Severe Persistent Asthma (PAS2) study evaluating patients treated with the Alair System. The data demonstrate that BT reduces complications in adult patients with severe persistent asthma.
$BSX closed its acquisition of Symetis SA. On an adjusted basis, the transaction is expected to be immaterial in 2017, slightly accretive in 2018, and increasingly accretive thereafter. The transaction is expected to be less accretive (or slightly dilutive) on a GAAP basis, due to amortization expense and transaction and integration costs.
$BSX announced positive European registry results for Watchman Left Atrial Appendage Closure (LAAC) Device. Data confirmed that the Watchman device had a high implant success rate and was effective in stroke reduction for patients with non-valvular atrial fibrillation (AF), including those patients deemed unsuitable for oral anticoagulation.
New analyses from $BSX sponsored PLATINUM Diversity study underscore the need for greater understanding of the clinical and nonclinical barriers that can adversely affect stent-related outcomes. PLATINUM Diversity is a first-of-its-kind study focusing exclusively on women and minorities with coronary artery disease.
$BSX now estimates revenue for FY17 in a range of $8.8-8.9Bil (compared to prior guidance of $8.675-8.875Bil). Net income is expected between $0.81 and $0.86 per share (compared to prior guidance of $0.86-0.91 per share). Adjusted earnings outlook was reaffirmed at a range of $1.22-1.26 per share.
Medical device maker $BSX reported 10% growth in revenue in 1Q17, which helped it post higher earnings. Net earnings were $290MM or $0.21 per share, compared to $202 million or $0.15 per share a year ago. On an adjusted basis, net earnings grew to $0.29 per share.