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Boston Scientific Sees Grim Q2 But Eyes Growth By Q4 Fueled By Product Launches

 
• By Phil Greenfield

The big news at Boston Scientific's first-quarter earnings call was how badly the pandemic had impacted the second quarter so far, with sales down almost $500m in April. But the company said it already saw signs that procedure volumes were beginning to bounce back.

Sep 16, 2019 Fremont / CA / USA - Boston Scientific office buildings in Silicon Valley; Boston Scientific Corporation is a manufacturer of medical devices used in interventional medical specialties
• Source: shutterstock.com

Boston Scientific Corp.’s first-quarter earnings call illustrated the dramatic impact of the COVID-19 pandemic on the medtech industry so far in 2020. First-quarter earnings took a big hit, but as the COVID-19 pandemic didn't fully impact the company until mid-March, the second quarter looks considerably worse, with sales for the first three weeks of April down 45-50%, almost $500m on a year earlier.

The company reported on 29 April that its net income for the first quarter of 2020 was $11m, or $0.01 per share, sharply down from $424m and $0.30 per share...

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