(RTTNews) – Boston Scientific Corp. (BSX) shares fell more than 8% or $3. 10 tuesday morning to $34. 93.
On Tuesday, Boston Scientific announced that it had introduced a voluntary recall of all unused stocks of the LOTUS Edge aortic valve formula due to the complexities related to the product distribution formula. The company noted that there is no protective factor for patients who lately have a Lotus Edge valve implanted.
In addition, Boston Scientific stated that due to the increased time and investment required to expand and reintroduce an advanced distribution system, it will promptly eliminate the entire LOTUS product platform. production activities.
The Company estimates that recall and production disruption would result in before-tax overheads of approximately $225 million to $300 million, and most of those expenses are expected to be recorded in the fourth quarter.
Boston Scientific has traded between $24. 10 and $46. 62 over the more than 52 weeks.