Medtronic (MDT) has presented positive data for its CoreValve system at the European Society of Cardiology Congress 2011. It was observed that treatment with CoreValve led to positive clinical outcomes. The study enrolled 50 patients with the average age of 81 years and followed them for four years.
After two years, the patients recorded a cardiac survival rate of 77.9% (with overall patient survival of 58.5%) and 68% after four years (with overall patient survival of 45.1%). Moreover, patients experienced lesser heart failure symptoms after four years.
Earlier this month, Medtronic received the CE Mark approval for its 31 mm CoreValve system. Following the recent approval, the company’s CoreValve portfolio will have three types of valves (26 mm, 29 mm and 31 mm) and will be able to treat a larger patient population suffering from severe aortic stenosis.
Medtronic’s CoreValve system takes a minimally invasive route to treat patients with symptomatic, severe aortic stenosis, who are at high risk or are ineligible for open-heart surgery. Globally, about 300,000 people have been diagnosed with this condition of which one-third is deemed too risky for open-heart surgery.
The CoreValve system has been implanted in more than 15,000 people in more than 40 countries since 2007. However, the device has yet to receive approval in the US.
However, Medtronic faces tough competition in this field from Edwards Lifesciences (EW). Moreover, Boston Scientific (BSX) has acquired Sadra Medical, which develops percutaneous aortic valves replacement to treat patients with severe aortic stenosis. While Edwards expects the US approval of its Sapien transcatheter heart valve in 2011, Boston Scientific plans to begin the CE Mark trial of its Lotus valve in the fourth quarter of 2011.
During the last reported quarter, Medtronic recorded a 19% year-over-year (11% at constant exchange rates or CER) growth to $850 million. Revenue growth in the CardioVascular segment was driven by robust performance in all three businesses, particularly in emerging markets. Within this segment, revenues from Coronary, Structural Heart, and Endovascular & Peripheral businesses increased 14% ($389 million), 23% ($275 million) and 23% ($186 million), respectively.
Endovascular revenue was driven by the US launch of the Endurant stent graft for the treatment of abdominal aortic aneurysms and growth in Peripheral, including drug-eluting balloons, in international markets. In Structural Heart, transcatheter valves continued to show strong growth.
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