Investor Sues Boston Scientific Over FDA's Mesh Product Pull
Law360 (April 24, 2019, 3:58 PM EDT) -- An investor sued Boston Scientific on Wednesday over the 7.7% drop in share price that followed the U.S. Food and Drug Administration's decision last week to pull the company's surgical mesh products from the U.S. market.
The FDA said on April 16 that the medical device manufacturer's premarket approval applications for its Uphold Lite Vaginal Support System and Xenform Soft Tissue Repair System lacked evidence guaranteeing the safety and long-term effectiveness of those products.
News that the products would be pulled from shelves in the U.S. caused Boston Scientific's share price to drop by $2.90, according to investor Steve Klein, who...
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