Boston Scientific Q1 profits up 2,872%
Photo | Grant Welker
Boston Scientific headquarters in Marlborough
Boston Scientific reported a first quarter turnaround with profits rising from $11 million in the quarter in 2020 to $327 million this year.
The company reported net sales of $2.752 billion during the first quarter of 2021 along with profits of $327 million, or $0.23 per share. These figures represent an 8.2% growth in sales and 2,872% growth in profits over the first quarter of 2020.
Sales were up across the board for the firm, with approximately 10% growth in MedSurg, cardiovascular, endoscopy and medical devices. Only the smaller specialty pharmaceuticals area saw a decline, of 67.5% with a drop from $41 million to $13 million in sales.
The company estimates net sales growth for 2021, versus 2020, to be in a range of approximately 16% to 19% on a reported basis.
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