let's see, 5 class action lawsuits, R & D dept. to close end of Dec. '05, new manifold production is halted, , warning letter from FDA....u be the judge....company trying to turn around or a company in big trouble?
BSX losing another partner,
BSX no longer sells the Glidewire,glidecath or
pinnacle sheaths? I know it is not as glamorous as
Coronary stents but will it affect the bottom line?
NitroMed, Boston Scientific End Pact
Thursday December 29, 10:49 am ET
NitroMed, Boston Scientific to End Research Collaboration Deal on Dec. 31
LEXINGTON, Mass. (AP) -- Pharmaceutical company NitroMed Inc. said Thursday that its joint research program with medical device maker Boston Scientific Corp. studying its nitric oxide-enhancing technology will conclude on Dec. 31.
A company spokeswoman said the agreement, which had been in place since November 2001, was scheduled to end. The deal contributed about $1.5 million to NitroMed's revenue this year, and some $3 million over the term of the deal.
The two firms were researching the use of the technology in connection with restenosis in balloon angioplasty. Restenosis is the closing or narrowing of an artery that was previously opened by a cardiac procedure such as angioplasty.
NitroMed said it plans to continue to explore the use of its nitric oxide-enhancing technology in medical devices.
Shares of NitroMed fell 36 cents, or 2.5 percent, to $14.19 in morning trading on the Nasdaq, while Boston Scientific shares shed 2 cents to $24.78 on the New York Stock Exchange.
I tire of this particular post. It has been posted to death. Thereofore I consign thee to the fools corner to weareth the cap of the dunce. Get thee gone and take thy ignorance with thee!! Ye will have foolish bretheren such as Crispy Critters and Surely Short4x2 to speak with and will not clutter my screen with your knavish twitter.
CONR has a better mousetrap. BSX obsolete.
Conor Medsystems is set to take on Boston Scientific
Medsystems Inc. (CONR ) has developed a new better breed of stent that have the power to swipe large swaths of business from rivals such as Johnson & Johnson (JNJ ) and Boston Scientific Corp. (BSX )
J&J and Boston Scientific are the two gladiators in this field, but many physicians are keeping a close eye on Conor's product as well. Although the stent's rate of restenosis, or recurrence of arterial blockages, has been much better than Boston Scientifics, doctors say Conor's is also easier to implant is also safer and more effective.
The Menlo Park (Calif.) company will release new data from clinical trials at a top cardiovascular meeting in Washington. "If it came out in the U.S. right now, the market would swing," says Dr. Dean Kereiakes, a professor of clinical medicine at Ohio State University who is serving as a co-principal investigator for Conor's U.S. clinical trial.
Conor has had some success but CIBC analyst John P. Calcagnini, who has a $26 price target on the stock, believes Conor can take 11% of the market by 2006.
Angiotech licenses a drug called paclitaxel to Boston Scientific that inhibits the growth of scar tissue. Conor uses the same drug in its clinical trials, but the way it incorporates and releases the drug is novel and doesn't infringe on its rivals' patents.
Litvack has helped run three companies, one of which was Advanced Interventional Systems Inc. The company developed laser technology to clear up artery blockages, In 1994 it was acquired by its chief rival, Spectranetics Corp. (SPNC ), for just $12 million -- a thin sliver of the $150 million market cap it reached after going public in 1991.
At least two physicians with no financial ties to Conor give its device high marks. Some cardiologists say Conor may succeed because its stent, which is thinner and less sticky than existing drug-coated stents, is more easily maneuvered through a clogged artery. "If everything else was me-too, just that one feature would take the whole market," says Dr. Mitchell Krucoff, a professor of medicine and cardiology at Duke University Medical Center If current clinical trials go well, Conor must battle Boston Scientific, J&J, and others. Boston Scientific is spending more than $200 million a year on interest and debt. For Litvack, the key to beating the competition is more innovation, both in devices and drugs. Conor is now developing a stent that uses anti-clotting compounds acquired from Novartis. "We believe the job of a good medical company is to make your products obsolete," he says.
The company is a complete disaster with lawsuits piling up, and they are likely to lose the class action lawsuits because insiders where selling like crazy when they where shipping the stents that killed patients.
The debt and increasing leagal fees continue to grow as sales decline and losses continue.
The chart is indicating its way overbought and due for a correction probably below $22 soon, if they continue to lose money it could soon be a $15 stock.
Perhaps Tobin and his crew can steal a few more pattents to keep the company out of Bankruptcy until they get busted by the courts again.
Labeling change also bad news labeling has been changed with the taxus stent...fda labeling change makes very clear that overlapping taxus stents could result in non-q wave mi's and risks should outweigh benefits. stents are overlapped all day long. because of our letigious society....this could really spook docs, but from what I can see they are already steering away from BSX with all the FDA warnings.
It seems obvious to me that the insiders knew that more people would die from their defective products from all the insider dumping that was going on, but I would think that doctors are also subject to lawsuits for malpractice if they are crazy enough to use BSX Taxus stents knowing that they are killing and injuring so many people, that could be a good case for malpractice.
Why won't anyone discuss the real issues that affect the company, there are sweeping health care and medicare reforms that can severly affect BSX negatively, also theres a large amount of preffered shares that could be converted to common,this could dilute shareholder value, and it seems like they are trying to hide the true debt level with creative accounting and tricks, something smells here and it's not just the pump and dumpers, but nobody discusses this why?
1. "let's see, 5 class action lawsuits,"- and??? that means nothing, from my personal experience.
2. "R & D dept. to close end of Dec. '05,"- this is a lying spin
3. "new manifold production is halted,"- one Manifold enduser price is 10 bugs, so no serious influence to revenue
4. "warning letter from FDA"- this is the real life by a device maker, the JNJ also get it and made some Cypher recall in June, because of polymer failure.(u don't get in??...JNJ PR roller!
5." ....u be the judge....company trying to turn around or a company in big trouble?"- MDT DES project- failed
GDT DES project failed
SORIN DES project failed
CONOR DES- patent problems
JNJ DES -first generation, not deliverable to distal lesions
BSX DES- market leader, second generation of DES in Europe and IC.
So, thats about facts and your spining program........