Dow Jones Newswires -- July 15, 1998
Boston Scientific Sees FDA Okay Of Nir Stent
In 2-3 Wks
Dow Jones Newswires
By Louis Hau
NEW YORK (Dow Jones)--Boston Scientific Corp. (BSX) hopes to receive
Food and Drug Administration approval of its Nir coronary stent within the
next two or three weeks, according to Chief Financial Officer Larry Best.
"After this week, hopefully, it will be a matter of 10 to 15 days," Best said,
speaking here at the NationsBanc Montgomery Securities Health Care
Conference. "But don't go to the bank with that."
Best said the FDA approval will come through after the agency's completion
of a Good Manufacturing Practice, or GMP, review of the company's Maple
Grove, Minn., manufacturing facility, which will make the Nir.
Boston Scientific announced in June it would acquire the Schneider
Worldwide unit of Pfizer Inc. (PFE). Best said Schneider's rapid exchange
catheters don't infringe on patents held by C.R. Bard Inc. (BCR).
Guidant Corp. (GDT), the other leading maker of rapid exchange catheters,
agreed to pay Bard $100 million in April to settle infringement claims made by
Bard regarding some of its patents for a number of different technologies, one
of which was related to rapid exchange.
- Louis Hau; 201-938-5240
Briefing Book for: BSX
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