Cordis, a Johnson & Johnson company, is set to discontinue the development of the NEVO Sirolimus-Eluting Coronary Stent to focus on other cardiovascular therapies where patient need exists.
The company will also stop the manufacturing of the CYPHER and CYPHER SELECT Plus Sirolimus-Eluting Coronary Stents by the end of 2011.
However, Cordis said it will continue to focus on cardiovascular care through its Biosense Webster and Cordis businesses.
Biosense Webster will continue to build and expand on its position in the $2.5bn electrophysiology (EP) market, as a provider of cardiac diagnostic, therapeutic, and mapping tools.
Cordis will expand its portfolio of vascular solutions for endovascular and cardiology procedures.
The business will focus on access, diagnostic and therapeutic products for cardiology procedures, products to diagnose, access and treat lower extremity disease, and the INCRAFT Stent-Graft System, the company’s new investigational device for treating abdominal aortic aneurysm (AAA).
Cordis intends to close Cashel, Ireland manufacturing facility where the NEVO Stent was to be produced and San German, Puerto Rico manufacturing facility for the CYPHER®Stent products
The company will also consolidate its Research and Development project teams in Fremont, California.