Summary
Boston Scientific Corporation (BSX) filed an 8-K on January 10, 2007, primarily to disclose preliminary net sales for the fourth quarter and full year 2006. While specific sales figures are not detailed within the 8-K itself, it references an accompanying press release (Exhibit 99.1) for this information. The filing also includes commentary from the CFO at the JP Morgan Healthcare Conference, indicating a belief that the drug-eluting stent market is undergoing a correction, with an expectation that U.S. penetration rates will recover to over 80% from a current estimate below 75%.
Key Highlights
- 1Disclosure of preliminary net sales for Q4 and full year 2006 via an accompanying press release (Exhibit 99.1).
- 2CFO commentary at JP Morgan Healthcare Conference regarding a 'correction' in the drug-eluting stent market.
- 3Expectation of U.S. drug-eluting stent penetration rates to return above 80%.
- 4Correction of a previously misstated mid-point for worldwide drug-eluting stent revenue in 2006 from $2.3 billion to $2.4 billion.
- 5The information furnished is not considered 'filed' for legal liability purposes under Section 18 of the Exchange Act.