Originally Published MX May/June 2003
BUSINESS NEWS
First MoverFDA has approved the Cypher sirolimus-eluting coronary stent, by Cordis Corp. (Miami), a Johnson & Johnson Co., making it the first such product available in the U.S. market. Analysts estimate that the market for drug-eluting stents could reach $5 billion within the next 5 years. Competitors Boston Scientific and Guidant are said to be about 6 months behind J&J.
A white paper issued by the V.I.P.E.R. Group Inc. (Beverly Hills, CA) offers a fresh analysis of issues related to group purchasing organizations in the healthcare supply chain. A copy of the paper, entitled "The Impact of Group Purchasing on the Financial Performance of Health Systems: Changing Value Perceptions and Unintended Consequences," can be requested by e-mailing econserve@mindspring.com or calling 310/858-5553.
In mid-April, the Federal Trade Commission (FTC) approved the purchase of Pharmacia Corp. by Pfizer (New York City) for an estimated $57.8 billion. FTC approved the deal on condition that the two companies divest a wide range of products. Later in the month, the Journal of the American Medical Association published the incomplete results of Pharmacia's clinical trial of the antihypertension drug verapamil, together with an editorial criticizing the company for stopping its trial prematurely for "commercial reasons."
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