Boston Scientific Expresses Willingness To Discuss Modification of Guidant Plea Agreement

Apr 27, 2010

NATICK, Mass., April 27 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that the U.S. District Court in Minnesota declined to accept the plea agreement between Guidant and the U.S. Department of Justice (DOJ) related to product advisories issued in 2005, before Boston Scientific acquired Guidant.  Instead, the Court invited the parties to consider a modified agreement fashioned to further serve the public interest, including community service, public education and charitable activities, and suggested the DOJ allocate a portion of the settlement funds to Medicare.  The Court did not suggest revisions to the remaining terms of the plea agreement.

The Company said it plans to work with the DOJ in an effort to develop a modified plea agreement that is acceptable to the Court, the DOJ and the Company.

In November, Guidant agreed to plead to two misdemeanor charges related to the failure to include information in reports to the U.S. Food and Drug Administration, and Boston Scientific agreed to pay $296 million on behalf of Guidant.  

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.  For more information, please visit: www.bostonscientific.com.  

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