http://www.bloomberg.com/apps/news?pid=20601087&sid=ajZ2lVrqeb2I&refer=homeA study out fo Sweden may help the flagging fortunes of the stent businesses at Boston Scientific (BSX) and Johnsohn & Johnson (JNJ). Several pieces of research had indicated that drug-coated stents could cause cloating and health risks.
According to Bloomberg, “The new findings, presented at the European Society of Cardiology meeting in Vienna, show patients getting the drug- coated stents weren’t more likely to die or have a heart attack than those given the older, bare-metal stents.” The use of blood thinners may have aided the results.
A number of doctors remain unconvinced.
Share of BSX has been badly hurt by the controversy of stent safety. The company is looking at selling division to save money and some Wall St. analysts think the company may run into cash flow problems while it pays down its huge debt, brought on when it bought medical device company Guidant.
BSX shares were above $28 in late 2005. Today they trade below $13.
Douglas A. McIntyre