Boston Scientific Corporation (BSX) recently came out with its two-year SYNTAX clinical data that do not typify any statistically significant difference between percutaneous coronary intervention (PCI) and coronary artery bypass graft (CABG) surgery. The PCI was performed using the company’s TAXUS Express Paclitaxel-Eluting Coronary Stent System.

The composite safety endpoint consisting of different parameters like all-cause death, stroke, and myocardial infarction (MI) demonstrated no significant difference between PCI and CABG.

Results in the SYNTAX study were as follows:

• The combined rate of all-cause death, stroke and MI was 10.8% for PCI, compared to 9.6% for CABG.
• On an individual parameter basis, the rate of stroke was 1.4% for PCI, compared to 2.8% for CABG. MI was 5.9% for PCI and 3.3% for CABG. All-cause death was 6.2% for PCI versus 4.9% for CABG.

Positive results from the SYNTAX trial bring an alternative treatment option, PCI, for patients with complex coronary anatomy, the majority of who are currently treated with CABG. This will increase sales of Boston ’s TAXUS Express Paclitaxel-Eluting Coronary Stent System, which is expected to eventually drive the company’s top-line.

Boston Scientific manufactures medical devices and products used in a broad range of interventional medical specialties. The company faces significant competition across its product portfolio. The primary competitors include Johnson & Johnson (JNJ), Medtronic Inc. (MDT), Abbott Laboratories (ABT) and St. Jude Medical Inc. (STJ).

Based on the company’s performance, we have assigned a Neutral recommendation to the stock.

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