Facing ongoing lawsuits over mesh products used to treat urinary incontinence, its 2006 acquisition of Guidant Corp., and tax issues with the IRS, Boston Scientific has now set aside nearly $1 billion to pay legal expenses.
The Marlborough-based medical device company increased its litigation reserves by $139 million over the course of the three months that ended in September to total $945 million, CFO Dan Brennan said on a conference call with analysts on Wednesday. By contrast, the company’s cash on hand as of Sept. 30 was just $236 million.
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