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Boston Scientific profit sags

...By Janet Moore, Star TribuneLast update: April 23, 2007 – 8:42 PM Printer friendly E-mail this story Save to del.icio.us Business Building walls against fraud Clock is ticking on NWA flight attendants Target anticipates 'much weaker' sales Boston Scientific profit sags BSX: Defibrillator sales better than expected Boston Scientific Corp.

said Monday that first-quarter earnings sank 64 percent as sales of its signature heart stents and The quarter's earnings were affected by $26 million in special charges related to the 2006 acquisition of Guidant Corp.

for $27 billion.Demand for drug-coated heart stents, which are made in Maple Grove, slowed in the wake of a recent study indicating that drugs are just as good at preventing heart attacks and prolonging lives.

These tiny mesh struts prop open clogged arteries leading to the heart, and the drug prevents the vessel from reclogging.The $5.4 billion drug-coated stent market has only two players in the United States: Boston Scientific and Johnson & Johnson.

Worldwide sales of Boston Scientific's drug-coated stent declined about 26 percent in the first quarter to $468 million.Ove...