Boston Scientific pulls Q1, 2020 guidance on COVID-19 disruption - InvestingChannel

Boston Scientific pulls Q1, 2020 guidance on COVID-19 disruption

Boston Scientific announced this morning that it is withdrawing its guidance for Q1 and 2020 previously issued on February 5. The company said, “As the COVID-19 pandemic has expanded worldwide, medical authorities globally (including the U.S. Surgeon General, the American College of Surgeons, and the U.K. National Health Service) have advised the deferral of elective medical procedures. This disruption, as well as others caused by the evolving COVID-19 pandemic and macroeconomic environment, are expected to negatively impact the Company’s financial results. In addition, given the ongoing uncertainty of the scope and duration of the pandemic, the Company is currently unable to estimate those specific impacts. The Company will provide additional information during its next earnings call, scheduled for April 29, 2020. The Company believes its long-term fundamentals remain excellent given its innovative product portfolio and pipeline, the high acuity mix of its business, its category leadership strategy, and talented global team. The Company continues to focus its efforts on the health and safety of patients, healthcare providers, and employees, while executing its mission of transforming lives through innovative medical solutions to improve the health of patients around the world.”