Guidant Loses Bid to Overturn Block on Stent
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Guidant1 Corp., the world’s largest maker of heart stents, lost a bid to overturn a court ruling blocking it from introducing a drug-coated device to keep arteries clear.
Boston Scientific Corp. last year successfully challenged a partnership between Guidant and Cook Inc. to develop and sell drug-coated versions of the stents, spring-like metal tubes that prop open diseased blood vessels.
Boston Scientific, which filed for approval from the Food and Drug Administration for its stent, may now become the second U.S. vendor of drug-coated stents. Johnson & Johnson in April already has approval for its Cypher stent.
Indianapolis-based Guidant’s shares fell 87 cents to $39.49 in NYSE composite trading. Boston Scientific shares fell $1.41 to $61.69.
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