Boston Scientific gets FDA approval for coronary stent

Monday, 08 March 2004, 20:30 IST
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NEW DELHI: Medical-devices major Boston Scientific Corporation has received the US Food and Drug Administration (FDA) approval to market its coronary stent, used in angioplasty. The formal FDA approval Friday to market the Taxus Express2 paclitaxel-eluting coronary stent system in the US, is also expected to generate confidence among the growing customers in India, feel company officials. Boston Scientific has had a presence in India for the last six years, during which its market share in supply of coronary stents has reached over 60 percent, with sales of 7,000 stents. Johnson & Johnson and Surat-based Indian company Sahajanand Medical Technologies are the only other companies supplying this medical device in the country. "The FDA approval has come as a reinforcement of the credibility that Taxus has in India. Taxus is already the market leader in India and its performance has been recognised by physicians as particularly impressive in challenging cases such as patients with diabetes, small vessels and long lesions," said Sanjiv Chopra, managing director of Boston Scientific India. "This approval is expected to not only help generate confidence in our product but also push our market share," said Chopra in a statement. The company is targeting raising its market share to over 75 percent in a year. The product is priced at 90,000 to 100,000 in India. "This approval is a breakthrough event for the treatment of cardiovascular disease in the United States," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. The approval paves the way for the company to commercially market the product for the first time in the US, though it is already being exported to the EU and several other markets including India.
Source: IANS