Medtronic says FDA panel to review Endeavor stent

NEW YORK Tue Aug 21, 2007 4:57pm EDT

NEW YORK Aug 21 (Reuters) - Medtronic Inc (MDT.N) said on Tuesday a federal advisory panel of medical experts in October will review the company's experimental Endeavor drug-coated stent.

The tiny device, now awaiting U.S. approval and used to prop open heart arteries that have been cleared of plaque, will compete with lucrative similar products sold by Johnson & Johnson (JNJ.N) and Boston Scientific Corp (BSX.N) if it is approved by the U.S. Food and Drug Administration.

Medtronic said the FDA will announce the date of the planned advisory panel meeting four to six weeks in advance.

Industry analysts are counting on Endeavor to be an engine of earnings growth for the Minneapolis-based medical device maker, which on Tuesday said it continues to expect approval of the new stent later in 2007.

Separately, Medtronic said it and Bayer Group (BAY.N) will partner to co-market a new blood glucose meter for Medtronic patients outside the United States. (Reporting by Ransdell Pierson)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.