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Biotech / Medical : Medtronic (MDT)
MDT 103.38-1.7%3:59 PM EST
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To: Platter who wrote (337)10/12/1998 5:38:00 PM
From: Platter  Read Replies (1) of 687
 
MEDTRONIC INC. (MDT) 56 3/4 +5 13/32. The re-make of the FDA approval process has allowed for a mini-rally to take place in the cardiac rhythm management medical group. The speedy FDA approval of Medtronic's latest implantable defibrillator for the treatment of complex heart rhythm problems should quickly translate into sales which should quicken the pace of earnings not too far in the future. Shares of Medtronic have been able to rise by as much as 12% so far today, but so has the rest of the sector, as investors bet that additional advances will be made in this area that will benefit the group in general. The approval of the dual chamber defibrillator product is a positive step for saving lives as the Medtronic Gem DR device utilizes microelectronics and software to combine the functions of defibrillators and rate responsive pacemakers by adjusting its pacing rate to the patient's activity level. In the past, this was hard to do, leading to misdiagnosis and increased discomfort to patients. In determining the safety of this new dual chamber technology, the FDA took into considerations the benefits derived in a study in which the Gem DR device showed an ability to sharply reduce inappropriate treatment of atrial arrhythmias, by properly evaluating and properly providing the correct treatment in 99% of ventricular arrhythmias. While the Gem DR device is not a cure-all, it will certainly lead to further advances in the defibrillator field that should continue to reward patients and the device makers alike. While today's price gain is welcomed, after the painful retreat the market has made since mid-July, the stock is still $22 below its high of $72 3/4.
..........................From brieifng.com
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