Stocks: (MRK)(BSX)(JNJ)(PFE)
Yet another investigation of the health affect of stents. Where will it end?
The FDA is bringing in outside experts to get their opinions on the dangers of drug coated stents.Boston Scientific desperately needs a good result. The company has said that sales will rise 21% next year. If the new study undermines stent sales, the forecast could be a pipe dream.
The concern is that drug coated stents can cause blockages and heart attacks.Global stent sales are about $6 billion a year and BSX and Johnson & Johnson own the market. The FDA survey could determine whether its is a market worth owning or if the medical liabilities could become legal liabilities. Think Merck and Vioxx.
Pfizer just learned the hard way that forecasts can be undermined by research results.
Ouch.
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