Boston Scientific (BSX) Weaker After Lotus Valve Device Recall

February 23, 2017 9:29 AM EST

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Boston Scientific (NYSE: BSX) is down 6.9% after the company announced a voluntary removal of all Lotus Valve devices, including Lotus with Depth Guardâ„¢, from global commercial and clinical sites due to reports of premature release of a pin connecting the Lotus Valve to the delivery system. As with the prior announced suspension of the Lotus Edge Valve System device, they believe that the issue is caused by excess tension in the pin mechanism introduced during the manufacturing process.

The company expects to bring the Lotus Valve platform back to market in Europe and other regions in the fourth quarter of 2017. They anticipate filing the U.S. PMA submission for the Lotus Edge Valve System, the next generation platform, in the fourth quarter of 2017, with a U.S. launch planned for mid-2018.

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