Why Boston Scientific Is Pumping Again
After a rocky patch following three recalls of its flagship product, the Taxus drug-coated coronary stent, Boston Scientific (BSX ) seems to be getting back on track. In a midyear update on Sept. 1, the medical-device maker told analysts it has recaptured market share for Taxus and now expects revenue of $3 billion in the second half of 2004, including $1.3 billion in Taxus sales. The news came as a surprise to Wall Street, with investors pushing the stock up 5%, to $37.50, at the close of trading.
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