Boston Scientific paying $296 million settlement

November 06, 2009

Medical device maker Boston Scientific says it will pay $296 million to settle a Department of Justice investigation into the company's Guidant unit.

The investigation involved product advisories issued by Guidant in 2005, a year before Boston Scientific paid $27 billion for the heart device maker.

Under the deal, Guidant will plead to two misdemeanor charges related to failure to include information in reports to the U.S. Food and Drug Administration, along with Boston Scientific's payment.

Natick, Mass. Boston Scientific Corp. updated its third-quarter profit results to reflect the charge.

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