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
Some Converse copycats cost big bucks A few bargain brands got swept up in Chuck Taylor's net, but others cost a pretty penny. More
Urban infrastructure gets a second life Railroad beds become parks, power plants become aquariums and slaughterhouses are now art centers as an industrial past turns people-centric. More
Boomtown moms From working mothers raising their kids in RVs to stay-at-home moms who spend their days organizing events for the Oil Wives club, meet the moms of North Dakota's oil boom. More

Most stock quote data provided by BATS. Market indices 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.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.

Most stock quote data provided by BATS. Market indices 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.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.