EXHIBIT 99.1
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NEWS
FOR IMMEDIATE RELEASE
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[LOGO]
BOSTON
SCIENTIFIC
Boston Scientific Corporation
One Boston Scientific Place
Natick, MA 01760-1537
508.650.8000
www.bostonscientific.com
BOSTON SCIENTIFIC ANNOUNCES FDA APPROVAL FOR ITS
TAXUS(TM) EXPRESS(2)(TM) PACLITAXEL-ELUTING CORONARY STENT SYSTEM
COMPANY PLANS TO LAUNCH IN U.S. IMMEDIATELY
Natick, MA (March 4, 2004) - Boston Scientific Corporation (NYSE: BSX) announced
today that it has received approval from the U.S. Food and Drug Administration
(FDA) to market its TAXUS(TM) Express(2)(TM) paclitaxel-eluting coronary stent
system. The Company plans to launch the product in the United States
immediately, and it has ample inventory in all sizes. The Company launched the
TAXUS system in Europe and other international markets in February of 2003 and
is the leader in those markets today.
"This approval is a breakthrough event for the treatment of cardiovascular
disease in the United States," said Jim Tobin, President and Chief Executive
Officer of Boston Scientific. "Broad, consistent clinical data and extensive
real-world experience have clearly demonstrated that polymer-based delivery of
paclitaxel is a safe and effective therapy that dramatically reduces restenosis.
These attributes are complemented by the outstanding deliverability of the TAXUS
stent system. Today's approval of the TAXUS system makes this revolutionary new
therapy commercially available for the first time in the United States. We are
pleased to provide U.S. physicians with this innovative technology, which will
help so many patients live better lives."
"We are maintaining the financial goals we outlined at last week's analyst
meeting," Tobin added. "Events that have occurred subsequent to the meeting have
not altered our goals."
"The approval of the TAXUS system marks an important opportunity for clinicians
in the United States," said Gregg Stone, M.D., Vice Chairman of the
Cardiovascular Research Foundation at the Lenox Hill Heart and Vascular
Institute in New York, and Principal Investigator of the TAXUS IV clinical
trial. "In paclitaxel, we now have a multi-
functional drug that is safe and highly effective. The TAXUS system has shown
impressive results across a wide range of patients. Its performance has been
particularly impressive in challenging cases such as patients with diabetes,
small vessels and long lesions."
"The TAXUS system is a welcome new ally in the fight against cardiovascular
disease," said Stephen Ellis, M.D., Director of the Sones Cardiac
Catheterization Laboratories at the Cleveland Clinic, and the Co-Principal
Investigator of the TAXUS IV trial. "It offers a well-regarded drug in
combination with a delivery system that is exceptionally flexible and
conformable."
The TAXUS product will use the Express(2)(TM) coronary stent on the Maverick(TM)
balloon catheter as its platform. Together, they form the Express(2)(TM)
coronary stent system, which is known for its excellent deliverability and
conformability.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical
devices whose products are used in a broad range of interventional medical
specialties. For more information, please visit: www.bostonscientific.com.
This press release contains forward-looking statements. The Company wishes to
caution the reader that actual results may differ from those discussed in the
forward-looking statements and may be adversely affected by, among other things,
risks associated with clinical trials, the regulatory approval process,
physician acceptance of new products, litigation, competitive product offerings
and other factors described in the Company's filings with the Securities and
Exchange Commission.
CONTACT: Milan Kofol
508-650-8569 (Office)
617-834-8595 (Mobile)
Investor Relations
Boston Scientific Corporation
Paul Donovan
508-650-8541 (Office)
508-667-5165 (Mobile)
Media Relations
Boston Scientific Corporation