Latest news with #PFA
Business Recorder
4 days ago
- Business Recorder
PFA lodges 4 FIRs, imposes Rs968,500 fine during crackdown
LAHORE: Enforcement teams of the Punjab Food Authority (PFA) conducted inspections at 920 food points across Lahore Zone during a large scale crackdown against food law violators on Friday. Food safety teams registered four FIRs, imposed fines worth Rs968,500 and arrested one suspect over serious violations of the Punjab Pure Food Regulations, said Director General PFA Asim Javaid. Food safety teams inspected 432,000 litres of milk and discarded 7,650 litres of substandard and adulterated milk. In a separate raid on an oil warehouse in Awan Town, PFA seized and discarded 2,000 litres of poor quality oil. A case was registered against the godown owner, who was arrested on the spot. In Kahna a vehicle carrying fake milk was intercepted at a checkpoint. Milk was discarded and legal action was initiated against the supplier. DG Asim Javed said that poor hygiene conditions were observed at several food points, including moldy freezers, rusty utensils, insect infestation and the use of contaminated water for washing meat. He said that essential records and employee medical certificates were also missing. DG further said that the use of unhygienic and low-grade ingredients poses a serious threat to public health. He said that strict action will continue against all elements involved in food adulteration and that efforts are underway to bring all food operations in line with international safety standards. He has requested the public to report food safety violations on PFA's helpline 1223 to support the authority in its mission against food adulteration. Copyright Business Recorder, 2025
BBC News
4 days ago
- Business
- BBC News
Guernsey site back on market after affordable housing plan axed
A Guernsey site earmarked for new housing is back on the market after revised permission was granted to remove an affordable housing Rocques, near Delancey Park in St Sampson, was due to contain 16 affordable properties out of a total of 68 new PF+A resubmitted plans after the States suspended its GP11 rule last year which required larger housing developments to include a portion of affordable said the reality of gifting a proportion of land for affordable housing complicated matters but said it now expected the site to gain "plenty of interest as it is more straightforward". Guernsey introduced GP11 in 2016 which set out how many affordable houses developers needed to include in their it was suspended last year after complaints from the building trade that it was preventing building work from going said the site includes 68 market houses, with a mixture of one, two and three bedroom units."With housing needed, this is an excellent opportunity and ready to go," it said.
Yahoo
5 days ago
- Business
- Yahoo
Boston Scientific halves expected tariff hit
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. By the numbers Q2 sales: $5.06 billion 22.8% growth year over year Cardiovascular sales: $3.35 billion 26.8% growth year over year Electrophysiology: $840 million 96.1% growth year over year Boston Scientific on Wednesday halved its expected tariff charge for the year, following other medtech companies that have cut outlooks on financial impacts from the Trump administration's policies. CFO Jonathan Monson told investors during a second-quarter earnings call that the company now expects a tariff charge of approximately $100 million. Boston Scientific forecast a charge of approximately $200 million during a first-quarter call in April; however, the company signaled at an investor event in May that it would likely update its forecast. Boston Scientific is the latest medtech firm to lower expected costs related to tariffs after companies across the industry projected that they would absorb hundreds of millions of dollars in additional costs during first-quarter earnings calls. Johnson & Johnson similarly halved its expected hit to $200 million, exclusively related to the company's medtech business, and Abbott said last week that it expects a $200 million charge, compared with a charge of 'a few hundred million.' The company expects the $100 million impact to predominantly take hold in the second half of the year. Boston Scientific increased its full-year sales guidance as part of the company's earnings release. It now expects sales growth for the year in a range of 18% to 19%, compared with a prior range of 15% to 17%. PFA success continues Boston Scientific reported another strong quarter for its electrophysiology group as pulsed field ablation devices continue to boost companies' portfolios. While not the triple-digit growth Boston Scientific has reported in prior quarters, its electrophysiology group still grew by 96% year over year to $840 million. Boston Scientific is growing the use of its Farapulse PFA system in new markets like Japan and China. CEO Mike Mahoney told investors that Boston Scientific was third to market in Japan, specifically, but is now the 'clear market leader' in the country. Mahoney added that the company is also in the 'very, very early days' in China and is placing a lot of emphasis on what could be a large market opportunity. The CEO also emphasized that Boston Scientific is growing its future PFA offerings through internal investment, as well as through its venture capital portfolio and partnerships. The company also recently won an expanded indication for Farapulse in people with persistent atrial fibrillation, when an abnormal heart rhythm continues for at least seven days, widening the pool of patients who are eligible for treatment. Boston Scientific's continued success comes amid a reignited race for market share in the PFA space. The new atrial fibrillation treatment is quickly overtaking traditional treatments like cryoablation and radiofrequency ablation. Johnson & Johnson reported last week that its electrophysiology business returned to growth in the second quarter, largely due to further PFA adoption. The unit grew year over year by 11%. Tim Schmid, J&J's worldwide chairman of medtech, told investors on an earnings call that the company is not 'rolling over' when it comes to electrophysiology. 'Given that we created the [electrophysiology] category, for us, this one is very personal,' Schmid said. 'And while I know that several analysts were quick to write us off earlier this year, we continue to remain very confident in our ability to retain our global market leadership position over the long term.' Mahoney, on Wednesday's call, was similarly bullish on Boston Scientific's ambitions in electrophysiology. 'We not only want to be the clear leader [in] PFA,' Mahoney said, 'but our aim is to be the overall leader in [electrophysiology] in the future.' Recommended Reading 'We are not rolling over': J&J electrophysiology unit rebounds amid PFA rivalry
Time of India
6 days ago
- Business
- Time of India
Boston Scientific lifts annual profit forecast, sees smaller tariff impact
Bengaluru: Boston Scientific raised its annual profit forecast on Wednesday, banking on strong demand for its heart devices , and trimmed its expectation for tariff-related costs to half of the previously projected amount. Shares of the company rose 4.8% in morning trading following the results. "Based on the current schedule of expected tariffs, we now anticipate a full-year headwind of about $100 million, down from a $200 million estimate," CFO John Monson said during a call with analysts. The company expects to offset the remaining tariff impact through strong sales performance, favorable product mix and spending control, Monson added. A rise in surgical procedures has boosted sales for medical device makers such as Boston Scientific, helping counter broader concerns about healthcare spending. Executives credited strong trial results and expanded product indications for fueling physician adoption of key cardiovascular devices such as Watchman and Farapulse, the firm's main growth drivers that saw steady quarterly demand. The company said the proposed rules by the Centers for Medicare & Medicaid Services regarding certain cardiac procedures would further benefit its technologies. Farapulse, which is approved in the U.S. for some patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the pulsed field ablation (PFA) market. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. JP Morgan analyst Robbie Marcus said the profit forecast raise was larger than many had expected, especially given Boston Scientific is now moving past the initial U.S. rollout of Farapulse. "That said, the outlook still appears conservative to us," Marcus added. Boston Scientific now expects 2025 adjusted profit of $2.95 to $2.99 per share, up from its prior view of $2.87 to $2.94.
Yahoo
6 days ago
- Business
- Yahoo
Boston Scientific lifts 2025 outlook following 29% Q2 cardiovascular profit rise
Boston Scientific has raised its 2025 profit outlook to between $2.95 and $2.99 per share amid strong Q2 performance in its cardiovascular unit, driven in large part by the uptake of its Farapulse pulsed field ablation (PFA) system. The company now anticipates an adjusted profit of $2.95 to $2.99 per share for 2025, raising its previous guidance of $2.87 to $2.94. Boston Scientific's financials revealed total sales of more than $5bn in Q2 2025, representing a 22.8% rise on Q2 2024 at $4.12bn, with shares in the company rising by over 4% following the result's announcement. The majority of the quarter's profits emanated from the US-based company's cardiovascular unit at $3.34bn – representing a 26.8% increase on the unit's Q2 2024 performance at $2.63bn. GlobalData medical analyst David Beauchamp noted that since its emergence, PFA has displaced most other approaches to treating atrial fibrillation (AFib) such as radiofrequency (RF) and cryoablation. Meanwhile, Boston Scientific only has competition in the space from Medtronic and Johnson & Johnson (J&J). Boston Scientific gained US Food and Drug Administration (FDA) approval on Farapulse in January 2024, a month after Medtronic's approval for its PulseSelect PFA system. J&J secured approval for its Varipulse PFA system in November 2024. Beauchamp said: 'Boston Scientific also has had widespread success with their WATCHMAN series of left atrial appendage closure devices. 'It's not shocking to see them increasing their profit expectations, as they have been consistently successful for years and their device quality is very high.' Elsewhere across the business, Boston Scientific reported a 26.9% rise to $676m in its urology unit, up from $525m in Q2 2024. The company's peripheral intervention division also saw a significant increase of 18.3% to $698m versus $590m in Q2 2024. Boston Scientific's chairman and CEO Mike Mahoney commented: 'This was another excellent quarter – marked by exceptional top-line performance – that delivered margin expansion and prioritised investment for future growth.' Reflecting on the quarter during an earnings call with analysts, the company's CFO John Monson said that sales for medical device makers such as Boston Scientific had been boosted due to a growth in surgical procedures, thereby helping ameliorate broader concerns about healthcare spending concerning the Trump administration's proposed tariffs. However, Monson commented: "Based on the current schedule of expected tariffs, we now anticipate a full-year headwind of about $100m, down from a $200m estimate.' According to GlobalData analysis, months after the approval of Farapulse and Medtronic's PulseSelect, physicians in the US had already started displaying a much stronger preference for Farapulse over PulseSelect. J&J also released its Q2 2025 financials last week, reporting a 7.3% rise in its Medtech unit on Q2 2024 to around $8.54m. Since its FDA approval in 2024, J&J's Varipulse PFA system has clearly had an effect on the Medtech unit's performance, albeit to a lesser extent than Farapulse given that Boston Scientific's PFA system has had a slight head start in the market. "Boston Scientific lifts 2025 outlook following 29% Q2 cardiovascular profit rise" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
