Johnson and Johnson Cordis exits the drug eluting stent business
Published date : 20 June 2011
Article date : 20 June 2011
Competition in the drug-eluting stent market has lead to the decision from Johnson and Johnson to stop making the heart devices which it pioneered. This part of the market has been seen as particularly difficult because of law suits around patent infringement. The Cypher stent had been losing market share, and this announcement will also see an end to the development of the Nevo stent, acquired with Conor Medsystems in 2007. The company will continue to focus on devices such as the Exoseal vascular closure device and the Incraft stent graft system for abdominal aortic aneurysm.
Boston Scientific, manufacturers of the Promus coronary stent system saw a rise in its stock price following the announcement.
