Boston Scienfitic (BSX) has a deal to "settle all pending federal lawsuits against the company alleging harm from faulty defibrillators and pacemakers for $195 million," according to The Wall Street Journal. It could have been much worse, so the company’s shareholders finally have an event that they can cheer about because the company had pegged the cost at over $700 million.
The tip is gone, but the iceberg is still there. Suits by state authorities are still open and could be for some time.
But, it does lessen the company’s exposure to its current two-front war. Medical researchers have claimed that the company’s stents can cause blood clots and may pose severe health risks. Stent sales have fallen and its is unclear whether any liability cases could be filled on this matter in the future.
Two-front wars are rarely won. BSX is wise to do what it can to put the pacemaker issue behind it.
Douglas A. McIntyre
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