Healthcare Updates: Boston Scientific Corporation (NYSE:BSX), Johnson & Johnson (NYSE:JNJ)

Lakeway, TX -- (SBWIRE) -- 02/20/2013 -- vbtrendreport.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Boston Scientific Corporation (NYSE:BSX) has emerged this year as one of the state’s top gainers with a rise in stock price of 30% since January 1, trading at $7.50 on the end of Tuesday’s session.

The company is by far the fastest-growing company with more than a $10 billion market cap, and one of the fastest among companies with more than $2 billion. Analyst predicts new leadership, as well as several new products in its pipeline to be behind its gain.

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As a part of its restructuring plan announced in 2011, which is intended to save the company between $340 million and $375 million in 2013, the company announced 1,000 eliminations over the next year, coinciding with the company’s move to a smaller headquarters in Marlborough in January. The plan will cut a total of between 2,100 and 2,400 positions.

A lawsuit against Johnson & Johnson (NYSE:JNJ)’s Ethicon unit, of whether it has properly designed a vaginal mesh implant and adequately warned of its risks has been filed and a New Jersey jury ended its initial day of deliberations on the first lawsuit.

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A panel of six women and three men is weighing a lawsuit by Linda Gross where she claims that Ethicon’s design of her Gynecare Prolift was defective and blames the device for 18 surgeries.

“Would Linda have chosen a different procedure if she knew everything that Ethicon knew? Absolutely,” Gross attorney Adam Slater argued in state court in Atlantic City in his summations on Feb. 15. “They obviously failed to warn.”

Slater claims that her chronic pain and other health problems were risks Ethicon knew about before first selling Prolift in March 2005. Slater said Ethicon knew the device caused pain and often became exposed through the vaginal skin. He said it hardened in women’s bodies, caused pain, and was difficult for surgeons to remove.

The case is Gross v. Gynecare Inc., Atl-L-6966-10, Superior Court of Atlantic County, New Jersey (Atlantic City).

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