Healthcare Industry News: Express2
News Release - October 14, 2008
Boston Scientific Announces Drug-Eluting Stent Market Share Estimates for September and Third QuarterTAXUS(R) Atom(TM) in more than 500 accounts Company opening new PROMUS(TM) accounts
NATICK, Mass., Oct. 14 (Healthcare Sales & Marketing Network) -- Boston Scientific Corporation (NYSE: BSX ) today announced estimated U.S. market shares for September for its two drug-eluting stents (DES), based on preliminary data from Millennium Research Group (MRG), a leading provider of strategic information to the healthcare sector.
Based on the MRG data, the Company estimates its share percentages of the U.S. DES market for September as follows:
-- Boston Scientific's PROMUS(TM) Everolimus-Eluting Coronary Stent System: 25 percent
-- Boston Scientific's TAXUS® Express2(TM) Paclitaxel-Eluting Coronary Stent System: 19 percent
The Company said the estimated aggregate U.S. market share for its two drug-eluting stents for the third quarter was approximately 45 percent, based on MRG data. The Company reported the same aggregate U.S. market share for the second quarter.
TAXUS Atom update
The Company said it has introduced its TAXUS® Express2(TM) Atom(TM) Paclitaxel-Eluting Coronary Stent System to more than 500 accounts in the United States. The TAXUS Atom stent is the only 2.25 mm diameter drug-eluting stent available in the United States. It was approved by the U.S. Food and Drug Administration (FDA) last month. It provides a drug-eluting stent treatment option for patients with small vessels for whom no DES was previously available. The Company said it is encouraged by the positive reception among clinicians for the TAXUS Atom stent. It said it believes the TAXUS Atom stent is increasing both the use of drug-eluting stents and Boston Scientific's share of the market.
Opening new PROMUS accounts
The Company announced it has: increased inventory supply orders for its PROMUS stent system, received increased supply this month, solidified supply to existing accounts, and has begun opening new PROMUS accounts. The Company said it has ordered sufficient additional PROMUS supply to continue opening new accounts through the remainder of this year and into the beginning of next year. It added that while expanding into new accounts, it will continue to supply existing accounts as well.
"These recent developments bode well for ongoing leadership by Boston Scientific in the drug-eluting stent market," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "With a market-leading aggregate share of approximately 45 percent, our two-drug platform is offering doctors excellent choices for their patients. TAXUS Atom is filling an unmet need in small vessel patients, one that could expand the drug-eluting stent market substantially. We have taken steps to improve our PROMUS inventory so we can solidify supply to our existing accounts and simultaneously begin to open new accounts. In addition to these developments, we now have FDA approval for our TAXUS® Liberte® Paclitaxel-Eluting Coronary Stent System, a thinner-strut, second-generation TAXUS stent that we believe will provide U.S. clinicians and their patients another safe, effective and even more deliverable drug-eluting stent option. We are also expecting FDA approval of our next-generation Apex(TM) balloon catheter soon."
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward- looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding regulatory approvals, clinical trials, product performance and competitive offerings. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file thereafter. We disclaim any intention or obligation to publicly update or revise any forward- looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.
Source: Boston Scientific
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