FDA approves Medtronic's drug-coated stent

Medtronic stock rises on FDA approval of drug-coated Endeavor stent.

Subscribe to Companies
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Aaron Smith, CNNMoney.com staff writer

GOP candidates' health plans
CNN's Dr. Sanjay Gupta takes a look at the Republican presidential candidates' health care proposals.

NEW YORK (CNNMoney.com) -- Medtronic said on Friday that the Food and Drug Administration approved its drug-coated stent Endeavor.

Medtronic's (MDT, Fortune 500) stock rose more than 3% on the news. The company said it will launch the product into the U.S. market "immediately."

"We will initiate shipments today," said Scott Ward, president of Medtronic's cardiovascular business. He said the first stent procedures would happen on Monday.

The approval was not entirely expected, as drug-coated stents have come under FDA scrutiny over reports that they might cause blood clots. But this potentially dangerous side effect has not been proven.

The Endeavor will compete directly with two drug-coated stents that are already on the market: Johnson & Johnson's (JNJ, Fortune 500) Cypher and Boston Scientific's (BSX, Fortune 500) Taxus.

Also, Abbott Labs (ABT, Fortune 500) is awaiting an FDA decision for its drug-coated stent, called Xience.

The drug-coated mesh wire stents have been available in the United States since 2003. They are used to prop over arteries during, and after, angioplasty procedures. The older model of bare metal stents is still available. To top of page

Photo Galleries
Best-loved cars in America These cars and trucks topped J.D. Power's APEAL survey, which measures how much owners like their new vehicles. More
America's most powerful cars A new 'horsepower war' has erupted among U.S. automakers and these are the most potent weapons in their arsenals. More
A sampling of beers being made with traditional Latin flavors A small but growing number of craft breweries are including passion fruit, Mexican cinnamon and other traditional Latin flavors. More
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.