Boston Scientific vs Johnson & Johnson: Battle for the Stent Market
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Code : COM0033
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Region : USA
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Circa 1985 Stent, as a medical device, was conceptualized in 1985 when cardiologist Richard Schatz, practising at an Army hospital in San Antonio, met an Argentine doctor, Julio Palmaz. Dr. Palmaz told Schatz that he was using thin metal tubes to prop open blocked arteries in rabbits and that he wanted to apply this idea to human hearts. Palmaz tried to raise money by demonstrating the procedure to various universities but was unsuccessful... Boston Scientific's Nir Meanwhile, Boston Scientific, which had to give up the Palmaz-Schatz offer, was struggling to develop its own stent. As Pete Nicholas, co-founder of Boston Scientific, recalled: "J&J's stent is taking off, we're the biggest cardiology company, and we don't have the hottest product". In 1995, a few months after J&J's takeover attempt, Boston Scientific found a partner in Kobi Richter of the Israel-based medical device manufacturer, Medinol... The Cypher Launch Meanwhile, Johnson & Johnson had developed its own drug-coated stent named 'Cypher'. For the Cypher, J&J used a different type of drug: sirolimus, manufactured by Wyeth and sold under the brand name, Rapamune. After the FDA approval on April 24th 2003, Cypher stent hit the US market with a price of $3196, which was more than thrice the price of a bare metal stent... |
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