The bad days never seem to end at Boston Scientific (NYSE: BSX). The company has a heavy debt load from a bad acquisition of Guidant. The BSX stent business has been hurt by studies that question the safety of the devices.
Now the company has been told by a court that it must pay $431 million to a doctor who holds patents on certain IP in BSX drug-coated stents. According to the AP, Boston Scientific "plans to try to overturn the verdict in post-trial motions. If that’s unsuccessful, Boston Scientific says it will appeal."
With the company’s luck that is not likely.
BSX shares trade just above $12, near their 52-week low and down from the period high of $17.32.
Douglas A. McIntyre
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