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Biotech / Medical : Arterial Vascular Engineering AVEI
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To: igor who wrote (45)2/16/1998 3:00:00 PM
From: AARON DIDICH  Read Replies (1) of 410
 
Igor,

Just getting around to your request and since no one else posted anything let me just hit the highlights:

Article was written by Loren Fleckenstein, the original one I saw in 5/25/96 was written by Laura Benko.

1. The company reported $2.9M in US stent sales for the last three days of the 1997 cycle. NB: I reported on the Guidant thread of SI a source that revealed GDT was booking $4M/ day of new sales once they received approval. This was also after at least a month or more after approval so AVE may yet build up to that level...currently just slightly less than $1M/day. GDT also blew analyst's estimates out of the water due to those phenom sales.

2. AVE and two rivals, BSX and GDT will be the winners in this growing market

3. AVE is the only company to sell renal artery stents and will be
launching a stent for degenerated vein grafts. NB: these are probably the so called saphenous vein grafts used to jump coronary artery blockages

4. timelines: May, 4th generation stent in Europe
Summer: file clinical trials of above in US
5th generation stent on the drawing board

5. company has spent 20% of revenues for R&D and getting ready for the US launch, that should drop to a steady 14-6% but will be based on a larger revenue base.

6. Medicare increased reimbursement rates for stents this past Oct.

7. Nice bar graph showing sales: '97= $79
'98= $203.5E
'99= $456E
'00= $510E

Hope this helps and hope that we get a nice buyout offer before yearend.

Aaron
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