|2013 med tech R&D budget:||$861 million|
|Change from 2012 budget ($886 million):||-2.8%|
|Percent of segment net sales ($7.14 billion):||12.1%|
Boston Scientific ($BSX) is continuing its restructuring, which has trimmed the company's R&D budget from $895 million in 2011. The company expects savings of $150 million to $200 million by the end of 2015. Boston Scientific had 4,000 employees in clinical, R&D and research roles in 2013, the same as in 2012, according to annual reports.
Cardiology and vascular devices remains its major focus. Earning FDA approval of the less invasive CE-marked Lotus Valve System TAVR for patients too frail for open heart surgery is a priority for the company. Boston Scientific released trial results at this year's EuroPCR meeting showing that only 1.1% of patients using the device had moderate paravalvular aortic regurgitation after 6 months and recently created a postmarket registry of patients in Europe. The company also launched the Promus Premier drug-eluting stent in Japan and won FDA approval for a crop of implantable defibrillators in April.
In addition, Boston Scientific invested an undisclosed sum in California-based Amaranth Medical, as the race to be the first to secure FDA approval of a bioresorbable stent heats up. Amaranth's goal is to win a CE mark for a drug-eluting version of its product.
To bulk up in peripheral interventions, Boston acquired Bayer's interventional division for $415 million. In October 2013, the company began clinical trials of its investigational drug-eluting stent Innova for the treatment of superficial femoral artery lesions.
Neurology is another area of focus. The company is ramping up its neuromodulation efforts with a new clinical trial of its implantable deep brain stimulation device for patients with Parkinson's disease.
Finally, although the prospects for renal denervation appear gloomy in the wake of Medtronic's ($MDT) unsuccessful clinical trial of its Symplicity device, Boston Scientific CEO Mike Mahoney said the company plans to forge ahead with its effort to develop a renal denervation device to treat U.S. patients with uncontrolled hypertension. -- Varun Saxena (email | Twitter)
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