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Health and Healthcare

FDA’s First Stent Approval Since 2004 (MDT, JNJ, BSX, ABT)

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By Douglas A. McIntyre Published
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Medtronic, Inc. (NYSE: MDT) has just announced that it has received formal approval from the FDA to market its Endeavor Zotarolimus-Eluting Coronary Stent System for the treatment of coronary artery disease.

This had been under study for some time and had been used in more than 4,100 patients that had been followed-up for up to four years.  Medtronic noted that this affects an estimated 13 million people in the United States and is the country’s leading cause of death.  Medtronic will begin marketing of these stents immediately and said it EXPECTS TO SHIP 100,000 units to hospitals in the U.S. over just the next 30 days.

Boston Scientific (NYSE: BSX) and Johnson & Johnson (NYSE: JNJ) are competitors in this stent market, although stents have been under more scrutiny than in say 2003 to 2006.  Abbott (NYSE: ABT) is still waiting on a yeah or nay out of the FDA on its new stent.

Jon C. Ogg
February 1, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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