Boston Scientific (BSX) is beginning to market its new drug-coated stent in Europe. After the firestorm of criticism in the US about whether drug-coated stents can cause clotting and heart problems, maybe launching overseas is a good idea.
The stent will also be available in certain parts of Asia and Latin America.
Ironic as it may seem, European researchers have been critical of drug-costed stents. According to the Journal of the American College of Cardiology, Swiss researcher found that these stents inhibited the growth of collateral arteries that supply blood to the heart when major vessels are blocked.
Although BSX reported that its Q4 06 had gone well, the financial information on stent sales was not part of the numbers. Seems to be a mystery. Prudential has an "underweight" rating on the company.The stent issues may keep it their.
For good or evil, BSX’s stock price will rely heavily on its sales of drug-coated stents and any potential liability. No wonder the stock is down 45% over the last year and now trades at only $18.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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