FDA Classifies Boston Scientific's Recall For Device To Stop Blood Flow As 'Most Serious'
Portfolio Pulse from Vandana Singh
Boston Scientific Corporation (NYSE:BSX) announced a recall of its Obsidio Embolic device due to a high risk of bowel ischemia when used with the aliquot technique for lower GI bleeding embolization. The FDA classified this recall as Class I, indicating a serious health risk. Eleven incidents, including seven injuries and two deaths, have been reported. The recall involves about 1,600 devices distributed between May 8, 2023, and February 8, 2024. Additionally, Boston Scientific is in the process of acquiring Axonics Inc (NASDAQ:AXNX) for approximately $3.7 billion.
April 18, 2024 | 2:02 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Axonics Inc's acquisition by Boston Scientific for approximately $3.7 billion could influence its stock performance.
The acquisition of Axonics by Boston Scientific represents a significant valuation and could be viewed positively by investors, likely driving up Axonics' stock price in the short term. The acquisition highlights the value of Axonics' product portfolio and its strategic fit for Boston Scientific.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Boston Scientific's recall of Obsidio Embolic due to serious health risks and its acquisition of Axonics could impact its stock price.
The Class I recall of a key product due to serious health risks, including reported injuries and deaths, could negatively affect investor confidence and Boston Scientific's stock price in the short term. However, the acquisition of Axonics might be seen as a positive move for long-term growth, potentially offsetting some negative impacts.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90