J&J leaving Heart Stent Business Print E-mail
By Staff and Wire Reports   
Wednesday, 15 June 2011 19:17
Below is a look at some of the headlines for companies that made news in the healthcare sector on June 15, 2011.

Due to safety concerns and fierce competition, Johnson & Johnson (NYSE:JNJ) will stop selling drug-coated heart stents by the end of the year.  It will continue selling its bare metal stents.

J&J said it would end development of its Nevo heart stent and stop making its Cypher stent, leaving the field wideopen for competitors like Abbott Laboratories Inc (NYSE:ABT), Boston Scientific Corp. (NYSE:BSX) and Medtronic Inc. (NYSE:MDT).

In 2003, Cypher, introduced the first stent that released a drug designed to prevent re-clogging of arteries after being implanted in patients, which was a common issue with earlier bare-metal stents.  But there is concern over Cypher and other drug-coated stents which could cause dangerous blood clots months or years after being implanted in heart arteries.

J&J shares fell 1.5 percent to $66.08 in afternoon trading. Abbott shares were little changed at $51.40, and Boston Scientific shares were up 3.6 percent at $6.98.  Shares of SurModics Inc (NASDAQ:SRDX), which makes the drug-delivering polymer used in Cypher, were down 17.4 percent at $10.99. The company gets royalties from sales of the stent.

Also Wednesday:

American CryoStem Corporation (PINKSHEETS: AMCY) announced today that at the open of business June 15, 2011, the name change of American CryoStem Corporation to ACS Global, Inc. will take effect.

BioMedical Technology Solutions Holdings, Inc. ("BMTS") (OTCBB: BMTL) is pleased to announce it has signed a definitive agreement to acquire SharpsMD, Incorporated and 2000 Plus Consulting, Inc., two Florida based Medical Waste Disposal and Management Companies.

CDEX Inc. (OTCBB: CEXI), a leading developer of chemical detection products, using patented technologies, for use in healthcare and security markets, today provided a business update and reported its financial results for the second quarter ended April 30, 2011.

Connectyx Technologies Holdings Group, Inc. (PINKSHEETS: CTYX) ("Connectyx) announced today that it will provide access to Quintiles' MediGuard.org drug safety monitoring website as a value-added service for its MedFlash® subscribers.

Generex Biotechnology Corporation (OTCBB: GNBT) (www.generex.com) today announced that Jos van der Woert has been appointed to act as Chief Executive Officer of its wholly-owned subsidiary, Antigen Express, Inc., following its spinout.

Inovio Pharmaceuticals, Inc. (NYSE Amex:INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today that the company will make presentations at three conferences:  2nd World Cancer Vaccines SummitBoston, MA, June 22-23Radisson Boston.

NeoStem, Inc. (NYSE Amex:NBS), an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units – U.S. adult stem cells, China adult stem cells, and China pharmaceuticals, announced today that Jason Kolbert, Vice President of Strategic Business Development, will present at the Proactive Investors One2One Investor Forum on June 16.

OncoSec Medical Incorporated (OTCBB: ONCS), which is developing its advanced-stage ElectroOncology therapies to treat solid tumor cancers, today reported financial results for the quarter ended April 30, 2011.

Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM) and software for customer centricity, today announced its participation at the America's Health Insurance Plans (AHIP) Institute 2011 taking place June 15-17 at the Moscone Convention Center in San Francisco.

Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) has kicked off the scheduled senior management and key stakeholders meetings this week in Nairobi, Kenya. The meetings are intended to finalize a number of strategic next steps for the Company.

Techs Loanstar, Inc. (OTCQB: TCLN) (PINKSHEETS: TCLN) today announced additional details regarding its previously announced pending acquisition target, Quture, Inc.

Vermillion, Inc. (NASDAQ:VRML), a molecular diagnostics company, today announced that it will join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on June 24, according to a preliminary list of additions posted on June 10, available at www.russell.com/indexes.

ViroPharma Incorporated (Nasdaq:VPHM)
today announced that the European Commission has granted ViroPharma Centralized Marketing Authorization for Cinryze® (C1 inhibitor [human]) in adults and adolescents with hereditary angioedema (HAE) for routine prevention, pre-procedure prevention and acute treatment of angioedema attacks.

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