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July 28, 2021

Boston Scientific reports 53.6% rise in net sales for Q2 2021

Boston Scientific issued full year 2021 guidance, which reflects net sales growth of 21-22% on a reported basis.

Boston Scientific has reported net sales of $3.07bn in the second quarter (Q2) of 2021, a surge of 53.6% on a reported basis, compared with $2bn in the same period last year.

Net sales grew 49.6% and 52.4% on an operational and organic basis, respectively.

For the quarter ended 30 June, the GAAP net income available to common stockholders rose to $172m or $0.12 earnings per share (EPS) as against $153m or $0.11 EPS for Q2 2020. Adjusted EPS increased from $0.08 to $0.40.

Rhythm and Neuro segment sales totalled $3.6bn this quarter, witnessing a growth of 65% on a reported basis and 60.6% and 51.4% on operational and organic bases, respectively.

During the quarter, Cardiovascular sales reflected a 51.4% growth on a reported basis and 47.2% on an organic basis.

Furthermore, sales in the US rose to $1.8bn in Q2 2021 against $1.06bn in the same quarter last year, signifying a growth of 70.1% on reported as well as operational basic.

In the Europe, the Middle East and Africa (EMEA) region, sales stood at $662m, a 59.3% and 47.1% rise in the reported and operational bases, respectively.

Sales in the Asia-Pacific region were 27% on a reported and 21.1% on an operational basis.

A 33.8% and 25.8% rise in sales on reported and operational bases, respectively, were reported in Q2 in emerging markets.

Boston Scientific chairman and CEO Mike Mahoney said: “We delivered excellent results this quarter, with strong momentum throughout our portfolio and faster-than-market growth in most segments, fuelled by our team’s dedication to customers and patients all over the world.

“We are confident that our focus on meeting customers’ needs today, and our innovative pipeline to solve tomorrow’s challenges, will continue to deliver value for patients, customers and shareholders.”

In Q2 2021, net sales in the Medical Surgical segment rose to $9.48bn from $5.76bn in the same period last year, a rise of 64.6% on reported, 60.6% on operational and 60.7% on an organic basis.

The company issued full-year 2021 guidance predicting net sales growth of nearly 21-22% on a reported basis and diluted EPS on a GAAP basis between $0.79 to $0.83.

Last month, Boston Scientific exercised its right to acquire the remaining 73% shares in medical device company Farapulse for an upfront payment of nearly $295m.

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