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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (43212)	2/13/2003 2:46:08 PM
From: Saulamanca	Read Replies (1) \| Respond to of 52237

Johnson & Johnson May Win FDA Approval in a Month, Scully Says By Kristen Hallam Washington, Feb. 13 14:27 (Bloomberg) -- (JNJ) Johnson & Johnson's drug- coated heart device is likely to win U.S. Food and Drug Administration approval within the next month, said Thomas Scully, who runs the Medicare program. ``The FDA probably will approve the stent within the next month or so,'' Scully told the House Ways and Means Committee's health panel at a hearing today. Medicare, the U.S. health insurance program for the elderly and disabled, agreed to pay hospitals more for the company's Cypher stent, a drug-coated mesh tube that props open cleared arteries. The Cypher stent's coating is designed to prevent the growth of new tissue that may clog the artery again. The device is already sold in Europe. Higher Medicare reimbursement for inpatient procedures using the device would take effect as soon as the product receives U.S. approval, according to the U.S. Centers for Medicare and Medicaid Services. quote.bloomberg.com