Stent pioneer Johnson and Johnson withdraws from market

Increasing competition in the drug-eluting stent market has led to the announcement by Johnson and Johnson that it is to stop making the devices it pioneered. The revelation will mean the firm will stop making its Cypher and Nevo stents and will instead focus on equipment such as the Exoseal vascular closure device and the Incraft stent graft system for abdominal aortic aneurysm. As a result of the move, Boston Scientific, which manufactures the Promus coronary stent system, has seen a rise in its stock price.