Cordis Discontinues Cypher Stent, Halts Development of Nevo Stent
Cordis cited evolving market dynamics as the primary reason for the decision. The company was the first to introduce a drug-eluting stent, the Cypher, and was the market leader for several years. However, competition from newer generation drug-eluting stents introduced by Boston Scientific, Abbott and Medtronic knocked Cordis out of the top position several years ago and the company has not introduced new DES to reclaim market share.
The company was developing the Nevo stent with an innovative drug polymer loaded into holes in the stent struts in an effort to limit the polymer contact with the vessel wall to help prevent neointimal hyperplasia. Recently, bioresorbable polymers and entirely bioresorbable stents have taken center stage in DES development and appear likely to take over the DES market in the coming years. This change in market direction may have played a role in Cordis' decision to exit the stent market.
Cordis said the dynamics in the DES market have changed considerably in recent years and continue to evolve in areas such as demand, pricing and reimbursement and regulatory requirements for new technologies. The company also claims unlicensed competition from products that infringe Cordis patents, both owned and licensed, has eroded Cypher stent pricing, sales and market share, and has dampened the prospects for Nevo stent commercialization.
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