Although the MAUDE database still incorrectly claims to be current as of Dec 2003, if you search it you will find that , in fact, it has been updated to the end of June 2004.
There are too many Taxus events for me to tease out a month by month review so I have only looked at the month of June.
Using "Device Malfunction" as the event type there are 63 Taxus events and 7 Cypher events (Assuming a 70 / 30 marketshare split that means Taxus malfunctions almost 4 times more frequently than Cypher).
39 of Taxus' 63 events were withdrawal problems.
Of these 39, 24 were the (less serious) stent sticking to the (deflated) balloon type. Most of the other 15 were failures of the balloon to deflate.
The 7 Cypher events are a mix of different (i.e. not a pattern) problems. There are no reported balloon withdrawal problems - either deflation or adherence.
Using death as the event type there are 15 Taxus deaths and 17 Cypher deaths. I believe some may be duplicated reports. I missed reading a few of the Cypher summaries but everything I read was either SAT, or else death from unrelated causes. The same was true for Taxus (unrelated cause or SAT) except for one death which occured when a balloon failed to deflate.
Using injury as the event code there are 68 Taxus events and 73 Cypher events. I have not reviewed these yet, and am not sure if I will be able to get to it. Someone else may wish to see if there is anything pertinent there.
I started out recording lot numbers ("batch" numbers) and found no commonalities, so I stopped after about half of the events. Only afterwards did I realize that I should have been recording only the DEFLATION problem lot numbers for comparison (I was recording the adherence ones as well).
If someone goes through them on their own, could you please record the lot numbers of the deflation problems (if the balloon deflates but sticks it doesn't count) to see how many lots were involved? I don't have time to go through again. A few don't have the lot listed but most do.
Overall, I'd say Boston has a big problem on their hands. Recall issues aside, these events are numerous enough that eventually most labs will have sweated over at least one withdrawal. I would expect it will have an impact on marketshare over time.
Put another way,
"I have some breaking news, that might materially effect my Stocks value, could you please hold trading please??
"Sure, happy to, any idea when you might be able to release this information, we have some interested parties here."
"We are working on it, will try by days end, might need the weekend though"
"happy to help out, take your time.."
Is this the type of dialogue they could have had??? Just some more naiive questions. This is seems so complicated to me.
I don't think that the NYSE can abuse its right to halt trading. BSX might have wanted the halt to extend to the full day, but the NYSE had to open the stock after the news was out, unless the orders were so unbalanced that orderly trading couldn't be accomplished.
Yes, I believe your correct. But, why did they open it all?? What was the news story that had them so concerned?? BSX did not publish anything until 3;30? Were they giving BSX an opportunity to offset the WallStreet Journal article about Brigahm and Womens pulling product that was to appear mid day?? Is the NYSE going to close future trading days on future companies based on their intrepretation of breaking news stories???
I think that the reason the NYSE halted trading is that the news would have a material effect on earnings and the NYSE wanted to eliminate rumors whipsawing the stock price. I have seen some stocks halted for a day while news was pending. One of the reasons why most earnings reports are before or after the market closes is so that the NYSE won't have to halt trading.
Trading Curbs, market imbalances, impending immediate news is one thing! Freezing the trading market of a specific company for any reason, indefinitely, as was done, sets one helluva precedent!! I think we owed an explanation as to who and why that decision was made!! What if this occurred 2-3 times a day?? Lots of news stories out there that adversely and positively effect the value interpretation of companies. I guess they figure, if they cannot control the news , they might try to control the markets??
The NYSE will halt trading if there is news pending for as long as the news is pending. They will also halt trading if there is an large order imbalance. This isn't NASDAQ, where they typically don't halt trading.