FDA And Stents: Which Ones Are Safe?
Senior Editor, CNBC
The U.S. Federal Drug Administration is right now weighing in on the heated debate over drug coated stents versus metal ones. Stents are implanted in patients to stop heart attacks. They're looking into evidence that drug-coated stents-- may lead to dangerous blood clots. It's a huge concern that's effecting millions of heart patients. It's also effecting the $5 billion dollar drug-coated stent industry. Sue Herera talks with two industry analysts on "Power Lunch."
Dhulsini De Zoysa is Managing Director at SG Cowen Securities and Thom Gunderson is Medical Technology Analyst from Piper Jaffray.
Both said that no recommendations will be coming out of the two day FDA meetings. Gunderson said that for companies that make the drug-coated stents--like Johnson & Johnson and Boston Scientific --the controversy has already been figured into their stock prices.
Gunderson did say he meetings are a way to clear the air and that investors are more than likely hoping this is the "last chapter" on the issue. He said most doctors across the U.S. are still using the drug-coated stents.
Analyst disclosures: Cowen Securities received compensation from Conor Med Systems (CONR) and AMMD CYTC, EVVE, UNUS stock companies were non investment bank clients of Piper Jaffray.