Analysts are predicting big paydays for companies that can get renal denervation systems on the U.S. market, and Medtronic ($MDT) leads the way, followed by Covidien ($COV) and St. Jude Medical ($STJ). But what about Boston Scientific ($BSX)?
While the company lags behind in the race to cash in on hypertension-treating devices, incoming CEO Michael Mahoney said at a Monday conference that it has a plan for its RDN renal denervation system. As MassDevice reports, Mahoney said Boston Sci expects to secure first human use for the device in the third quarter of this year, followed by a CE mark for the drug-resistant hypertension treatment in 2013. Presumably, a filing with the FDA would follow that.
Of course, that timeline would still put Boston Sci behind its rivals. Medtronic's Symplicity is already available in Europe, and the same goes for St. Jude's EnligHTN and Covidien's OneShot. Medtronic is the furthest ahead in its development process, predicting it will get Symplicity on the American market by 2015.
And, if market analysts are right, big revenues will ensue. The Millennium Research Group estimates that the hypertension-treating devices could generate $4.4 billion per year, Bloomberg reported. That number could swell if the FDA indicates the systems for simple hypertension and not just the drug-resistant sort.
Boston Sci's entry into the renal denervation fray is all part of the company's, and Mahoney's, plan to boost revenues. The company is optimistic the recent acquisition of Cameron Health and its subcutaneous ICD will bolster Boston Sci's CRM unit, and the firm is looking to get its next-gen, drug-eluting stent, Synergy, on the market in Europe this year.
- read the MassDevice report