Either J&J management is sleeping at the wheel, or the following statements from BSX regarding the superiority of their Taxus stents are true.
"SAN FRANCISCO (CBS.MW) -- Boston Scientific's Taxus "drug-coated" stent is on its way to becoming the No. 1 product of its kind, and the device could win U.S. clearance next month, the company's chief financial officer said Tuesday.
Speaking at J.P. Morgan's health-care conference in San Francisco, CFO Lawrence Best said it's "possible" that Food and Drug Administration approval for the Taxus stent could come in February. The cardiovascular device is already available in Europe, where Best said it's taking the No. 1 market position over a competing product from Johnson & Johnson (JNJ: news, chart, profile)."
Interesting comment, and yes, the trials are going on. I am also an investor in Surmodics, SRDX, which makes the coating for JNJ on the DES. If anyone is interested in following that part of the stent production and marketing more closely, I whole-heartedly (NPI) recommend a visit to their message board. Many well-informed and intelligent posters there.
Something really smells with BSX results when the prelim results were inferior to Cypher stent. This will all come to light in the end. Even if BSX get 50% market share at first, this is to be at least a 4 billion dollar market. 2 billion is not so bad and besides, Cordis is way ahead and will be releasing new stent platforms way before BSX. I feel that the market share will be flip flopping based on releases of new stents with better deliverability. Nobody loses. Everybody makes money here.
Don't forget who owns JNJ...Certainly not the "pip squeak" investor posting on Yahoo financial board. The top 3 shareholders(Fidelity,State Street and Barclays Bank) own over 100 Million shares each...then Robert Wood Johnson Foundation and more Mutual Funds. Don't you think they know exactly what the score is? By the time info gets to this board, even the shoe shine person and trash man knows it before we do.
There is no need for JNJ management to spin when the big boys know all there is to know, already.
Of course reading some of the comments on this board is interesting and worth while sometimes.
I agree and have posted earlier that JNJ is in a win/win siuation on the stent issue with BSX. The law suit will reap Billions in a few years for JNJ.