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Boston Scientific plant fixes send stock up 7%

...(March 17) Play video Guidant, which Boston Scientific (up $1.10 to $16.11, Charts) acquired last year, had owned the facility, and the Food and Drug Administration had issued that company a warning letter about the deficiencies on Dec.

22, 2005.

The FDA reinspected the St.

Paul, Minnesota, plant between Nov.

9 and Dec.

7.Boston Scientific still must resolve a second warning letter affecting other facilities.The resolution of the FDA problems should put Boston Scientific in a better position to regain share in the market for implantable cardioverter Boston Scientific warns of heart battery Shares of Boston Scientific, which faces competitive threats to several top franchises, remain down about 6 percent this year.

They were up $1.13 to $16.14, more than 7 percent in midday New York Stock Exchange trading - far off the $45-a-share levels they reached in 2004."The stock has been so beaten down and battered for so long, investors seem to be looking for any excuse to get involved at these levels," RBC Capital Markets analyst Phil Nalbone said.The FDA issued the ...