Boston Scientific’s net sales totalled $3.026bn in the first quarter of 2022, up 10% on a reported basis when compared to $2.75bn recorded in the same period last year.
The figure also represents 12.6% growth on an operational basis and a 9.7% rise on an organic basis.
In the first quarter of 2022, Boston Scientific also reorganised its operations into two reportable segments, namely MedSurg and Cardiovascular. Both units recorded an increase in net sales in the quarter.
However, the US-based company’s GAAP net income available to common stockholders in the quarter dropped to $97m or $0.07 per share (EPS), from $327m or $0.23 per share in the prior-year period.
Boston Scientific chairman and CEO Mike Mahoney said: “Our growth this quarter was fueled by strong execution from our global team, our innovative portfolio and improved procedure volume.
“We are pleased with our first-quarter performance and outlook for the full year, despite the impact of macroeconomic headwinds, and we look forward to bringing meaningful innovation to customers and the patients we serve together.”
In the quarter, Boston Scientific received US Food and Drug Administration (FDA) approval for the EMBOLD Fibered Coil. The fully retractable coil is indicated for arterial and venous embolisation in the peripheral vasculature.
It also received FDA investigational device exemption (IDE) to begin a clinical trial to assess the efficacy of TheraSphere Y-90 Glass Microspheres in patients with recurrent glioblastoma.
Other recent developments include FDA approval for the next-generation Image-Guided Programming Software for Deep Brain Stimulation Therapy and National Medical Products Administration (NMPA) approval in China for Rezūm Water Vapor Therapy for benign prostatic hyperplasia (BPH).
Boston Scientific also completed the acquisition of Baylis Medical Company in the quarter. The deal, signed in October last year, closed in February.