Boston Scientific Gets FDA OK for Stent
Medical device maker Boston Scientific Corp. said it had received Food and Drug Administration approval to sell its Taxus drug-coated stent, becoming the second company to enter the lucrative U.S. market.
Analysts expect that the Taxus stent will give Johnson & Johnson’s Cypher drug-coated stent a run for its money, with some projecting Boston Scientific could exit 2004 with a 60% share of the estimated $3.8-billion U.S. market.
Since April, J&J; has been the only company to sell a drug-coated stent in the United States.
Shares of Boston Scientific rose 97 cents to $44.12. J&J; shares fell 19 cents to $53.03. Both trade on the New York Stock Exchange.
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