Boston Scientific

Company: Boston Scientific ($BSX)
Headquarters: Natick, MA
R&D budget 2012: $889 million

The bottom line: For the past three years, Boston Scientific's research budget has been in steady decline. 2012's $889 million R&D budget is a step down from $895 million in 2011 and $939 million in 2010. Still, the figure remains about 10% of the company's net sales annually. Why the drop? Boston Scientific overall has struggled. And the company has worked for a few years now to slash costs, boost efficiency and restructure R&D and other departments in order to "enhance our overall efficiency and effectiveness," Boston Scientific explains in its 10k regulatory filing. Its research and development efforts have included a focus on next-generation stents and defibrillators, a target of newer areas including neuromodulation to treat pain, and development work on devices such as its Watchman left appendage closure device for patients with nonvalvular atrial fibrillation.

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Boston Scientific