Natick, Mass.-based medical device giant Boston Scientific Corp. hits one of the world’s fastest-growing markets with two of its drug-eluting stents, Promus and Taxus.
Boston Scientific Corp. (NYSE:BSX) is planting its flag in the Republic of India, one of the world’s fastest-growing healthcare markets.
The Natick, Mass.-based medical device giant said it’s launching the third generation of its market-leading Promus and Taxus drug-eluting stents in a country of more than 1.1 billion people. Company officials say the DES market in India is surging, with an estimated 150,000 stents implanted annually. BSX won regulatory approval for the devices in India last year.
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“A key component of our growth strategy involves expanding our footprint in emerging markets like India, where we are making significant investments in sales, distribution and clinical infrastructure,” said CEO Ray Elliott in a prepared release. “Our PtCr stent technology platform provides a significant advantage in this fast-growing market.”
The company hopes its broader footprint in south Asia will pump some life into its flagging stent business. Sales for its cardiovascular group dropped 7 percent to $813 million during the fourth quarter, including a 9 percent decline in interventional cardiology, home of the flagship Taxus and Promus lines. Still, BSX officials say, the company can stake a claim as the industry leader in the “global drug-eluting stent market,” with a 35 percent share of the global market and a 46 percent share of the U.S. market, according to a press release.
For the full year, the cardiovascular unit posted sales of $3.2 billion, down 7 percent from $3.5 billion last year.
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MassDevice Staff Website The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
