Shares of Boston Scientific Corporation (BSX) announced receipt of the U.S. Food and Drug Administration clearance as well as the CE Mark approval for its Direxion Torqueable Microcatheter. Following the announcement, shares of Boston Scientific Corporation rose marginally by 0.08% to $11.97 as on Nov 20, 2013.
The two vital approvals open up the company’s scope to commercialize the medical device both in the U.S and European markets.
The Direxion Torqueable Microcatheter is a new addition in Boston Scientific’s peripheral embolization medical device technology portfolio. The innovative slotted nitinol hypotube technology of the device is designed to facilitate smooth access to the difficult areas of the body. This enhanced mechanism eases the handling of the physicians, thus saving both time and effort of them.
Peripheral embolization is a technique used by interventional radiologists to treat liver cancer, uterine fibroids and other challenging medical conditions. The process involves blocking a blood vessel to prevent the blood flow to a particular area of the body. This is purposefully done to either shrink a tumour or block an aneurysm.
The Direxion Torqueable Microcatheter is designed to facilitate selective access and delivery of diagnostic, embolic and therapeutic materials into the peripheral vasculature. The medical device is available in six tip configurations. Additionally, pre-loaded configurations are also available for application to a wide range of peripheral embolization procedures. Such configurations include the physician's choice of the Fathom-16 guidewire, Transend-14 guidewire, or Transend-18 guidewire.
Healthcare professionals can expect to benefit from Direxion Torqueable Microcatheter as it will enable them to deliver better patient outcomes. Non-invasive medical devices, such as the above mentioned microcatheter, are also preferred by patients as they minimize risks and ease the physical trauma involved otherwise.
Recently, Boston Scientific Corporation declared commercial implants of the Lotus Valve System in Europe. It also received China Food and Drug Administration approval for the Alair Bronchial Thermoplasty System. The medical device is used for the treatment of severe asthma.
The company seeks to undertake a restructuring plan in 2014 to propel its future growth prospects. Several strategic initiatives are also being taken by Boston Scientific to drive operational efficiencies and expand the product portfolio.
Currently, Boston Scientific Corporation carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Hill-Rom Holdings, Inc. (HRC) and NuVasive, Inc. (NUVA) each carrying a Zacks Rank #1 (Strong Buy) and Mead Johnson Nutrition Co. (MJN) carrying a Zacks Rank #2 (Buy).