Medtronic, Inc. (MDT) recently started a feasibility study of an interventional treatment for erectile dysfunction (ED) using a specially designed drug-eluting stent system. The study is known as ZEN (Zotarolimus-Eluting Peripheral Stent System for the Treatment of Erectile Dysfunction in Males with Sub-Optimal Response to PDE5 Inhibitors) and is being conducted under an investigational device exemption (IDE) issued by the U.S. Food and Drug Administration (FDA).
The study is expected to enroll 50 patients at up to ten medical centers in the United States over 2010. It has been seen that there is a link between erectile dysfunction and coronary artery disease. ED is primarily caused by vascular disease due to the deterioration of the endothelium. Medtronic’s drug-eluting stent preserves endothelial function of the native vessels. The study evaluates the safety and enhanced erectile function of pelvic artery stenting. Results are expected in 2011.
If successfully completed, the study gives an opportunity to widen Medtronic’s portfolio of interventional therapies. Medtronic is one of the world’s leading medical technology companies, specializing in implantable and interventional therapy devices and products. The company’s main competitors include St. Jude Medical (STJ) and Boston Scientific Corp. (BSX).
Medtronic’s management has a typical ‘ONE Medtronic’ approach that encompasses the following goals: drive sustainable long-term growth of 9%-11% through innovation; focus on operating margins — increase by 300 to 400 basis points; EPS growth of 11%-14% and return a minimum of 40%-50% of free cash flow to shareholders annually; and align the organization for consistent execution. Medtronic’s first quarter of fiscal 2010 results indicate that the company is well on track in achieving these goals.
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