) recently released endpoint data of a clinical trial showed the
excellence of the company's Promus Element Everolimus-Eluting
Platinum Chromium (PtCr) Coronary Stent System over its major
) Cobalt Chromium (CoCr) Xience V Everolimus-Eluting Coronary
This was a huge achievement for BSX. The data, which was
tracked for a period of three years, was presented in the
American College of Cardiology in San Francisco. The report
reflects the efficiency of Promus Element over Abbott's Xience V
over that period of time.
The 3-year trial reported a 3.5% target lesion
revascularization (TLR) rate for the Promus Element Stent,
compared to 4.9% for the Xience V Stent. Moreover, keeping at par
with the company's earlier data, the trial result portrayed that
unplanned stenting has been significantly reduced with Promus
Element compared to Xience V including a significantly lower rate
of inadequate lesion coverage. A separate data showed
improved blood flow through Promus Element as it has less vessel
straightening characteristics compared to Xience V.
The drug-eluting stent business in the U.S. continues to
witness challenges of pricing pressure, lower procedural volume
and lower penetration rates. Global sales of the coronary stent
system (within Interventional Cardiology) declined 12.6% to $333
million. The downside was due to disappointing performances of
the drug-eluting stents that declined 12.4% to $312 million and
the bare-metal stents that plunged 16% to $21 million.
However, Boston Scientific is resorting to all available means
to return to growth. The company has a strong pipeline of
products under development, the launch of which should drive the
top line. Last month, BSX received CE Mark approval for the
Promus PREMIER Everolimus-Eluting Platinum Chromium Coronary
Stent System. Subsequent to the approval, the company has been
working on the European market launch of this next-generation
durable polymer drug-eluting stent.
We also note that Boston Scientific is striving to penetrate
the emerging markets, including India, Brazil and China, with its
Element platform. The company expects this to continue to
accelerate growth through the end of the current fiscal. We
expect these factors to benefit the company over the long term.
With approximately 4 million people across the world suffering
from cardiovascular disease and being treated with stents, Boston
Scientific is optimistic about delivering better numbers in the
Boston Scientific now carries a Zacks Rank #3 (Hold). Other
medical device stocks worth a look are
). Both the stocks carry a Zacks Rank #1 (Strong Buy).
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