Company: BSX
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000885725-25-000050
Chunk: 11

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 products.

Operating Expenses 

The following table provides a summary of our key operating expenses:

 Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024(in millions)$% of Net Sales$% of Net Sales$% of Net Sales$% of Net SalesSelling, general and administrative expenses$1,741 34.4 %$1,562 37.1 %$5,053 34.2 %$4,372 35.9 %Research and development expenses514 10.1 %407 9.7 %1,483 10.0 %1,156 9.5 %

Selling, General and Administrative (SG&A) Expenses

During the third quarter of 2025, SG&A expenses increased $179 million, or 11 percent, compared to the prior year period and were 270 basis points lower as a percentage of net sales. During the first nine months of 2025, SG&A expenses increased $681 million, or 16 percent compared to the prior year period and were 170 basis points lower as a percentage of net sales. The increase in SG&A expenses in the third quarter and first nine months of 2025 was driven by selling expenses associated with higher net sales and product launches, including the Farapulse™ Pulsed Field Ablation System in our Electrophysiology business unit.

Research and Development (R&D) Expenses

We remain committed to advancing medical technologies and investing in meaningful R&D projects across our businesses. During the third quarter of 2025, R&D expenses increased $107 million, or 26 percent, compared to the prior year period and were 40 basis points higher as a percentage of net sales. During the first nine months of 2025, R&D expenses increased $327 million, or 28 percent, compared to the prior year period and were 50 basis points higher as a percentage of net sales. The increase in R&D expenses in both periods was driven by investments across our businesses, including those required to support the development and clinical evidence necessary to bring newly acquired technologies to market and maintain a pipeline of  products that we believe will contribute to profitable sales growth.

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Other Operating Expenses

The following provides a summary of certain of our other operating expenses, which are excluded by management for purposes of evaluating operating performance; refer to Additional Information for a further description.

Amortization Expense

During the third quarter