Boston Scientific Corporation (BSX) recently received the CE Mark approval for its Omega Platinum Chromium Bare-Metal Coronary Stent System, a third generation platinum chromium (PtCr) coronary stent system with greater radial strength and minimum stent recoiling. Boston Scientific plans to begin the shipment of the product in the immediate future.

The Omega Stent System is a part of Boston Scientific’s platinum chromium stent product line which also includes Promus Element Everolimus-Eluting Stent System (received CE Mark approval in October 2009) and Taxus Element Paclitaxel-Eluting Stent System (received CE Mark approval in May 2010).

The company expects approval from the US Food and Drug Administration’s (FDA) for Taxus stent (to be launched in US as Ion stent) by mid 2011 and for Promus stent (Promus Element Plus in US) by mid 2012. Also Boston Scientific expects Japan to approve both the Taxus stent (by end of 2011 or early 2012) and Promus stent (by mid 2012).

The coronary stent business which constitutes a major part of Boston Scientific’s revenue within the cardiovascular (CV) division declined 9.7% globally during the last reported quarter driven by lower sales of both drug-eluting stents (8.3%) and bare-metal stents (23.8%). However the company still maintained its stent market leadership position being the only company in the industry to offer PtCr stents. The company is expected to record improved sales with the CE mark for Omega stent.

Boston Scientific is currently focusing on strategic initiatives to drive growth and profitability in the competitive medical devices industry with major players like Edwards Lifesciences (EW) and Medtronic (MDT). The company is expanding its product portfolio and also emphasizing on extensive acquisitions, the recent being the privately-held Atritech that increases its scope for tapping the atrial fibrillation and structural heart therapy markets.

Presently, we are “Neutral” on Boston Scientific.

 
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