WWW.EXFILE.COM, INC. -- 888-775-4789 -- BOSTON SCIENTIFIC CORP. -- FORM 8-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): November 3, 2009
BOSTON
SCIENTIFIC CORPORATION
(Exact
name of registrant as specified in charter)
|
DELAWARE
|
1-11083 |
04-2695240
|
|
(State
or other jurisdiction incorporation)
|
(Commission file
number)
|
(IRS
employer identification no.)
|
| |
|
|
|
One Boston Scientific Place,
Natick, Massachusetts
|
01760-1537
|
|
(Address of
principal executive offices)
|
(Zip
code)
|
Registrant’s
telephone number, including area code: (508) 650-8000
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the fling obligation of the registrant under any of the following
provisions:
o Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
2.02. RESULTS OF OPERATIONS AND FINANCIAL
CONDITION.
Today we
announced that we have reached an agreement in principle with the U.S.
Department of Justice related to product advisories issued by our Guidant
subsidiary in 2005. The alleged conduct and product sales occurred
prior to our 2006 acquisition of Guidant.
We had
previously disclosed an investigation by the U.S. Attorney’s Office in
Minneapolis into alleged violations of the Food, Drug, and Cosmetic Act by
Guidant. Under the terms of the agreement, Guidant will plead to two
misdemeanor charges related to failure to include information in reports to the
U.S. Food and Drug Administration, and we will pay $296 million on behalf of
Guidant.
U.S.
Generally Accepted Accounting Principles require that this agreement be recorded
in the third quarter, as it occurred after the October 19, 2009 release of our
third quarter financial results and before the filing of our Quarterly Report on
Form 10-Q. Accordingly, we have updated our financial results for the
third quarter and nine months ended September 30, 2009, recording a third
quarter charge of $294 million, on both a pre-tax and after-tax basis.
This
amount represents the $296 million charge associated with the agreement net of a
$2 million reversal of a related accrual.
A copy of
the press release is attached hereto as Exhibit 99.1.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS.
|
Exhibit
No.
|
Description |
| |
|
| 99.1 |
Press Release issued
by Boston Scientific Corporation dated November 6,
2009. |
SIGNATURE
Pursuant to the
requirements of the Securities and Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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BOSTON
SCIENTIFIC CORPORATION |
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| |
|
|
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Date: November
6, 2009
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By:
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/s/ Lawrence
J. Knopf |
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Lawrence
J. Knopf |
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|
Senior
Vice President and Deputy General Counsel |
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INDEX
TO EXHIBITS
|
Exhibit
No.
|
Description |
| |
|
| 99.1 |
Press Release issued
by Boston Scientific Corporation dated November 6,
2009. |