STOP-AF To Enable Medtronic (MDT) To Expand Share In AF Market
According to Citi, “Strong efficacy and reasonable safety for MDT’s STOP-AF trial leads us to believe the Arctic Front remains on track for FDA approval for paroxysmal atrial fibrillation (AF) in FQ2:11. The device continues to gain share in Europe, and would become the second approved US device for AF after JNJ’s (JNJ.N; US$64.57; 1L) Navistar Thermocool.” “Efficacy and safety data for the PERSEUS trial were good enough to meet non-inferiority endpoints when compared to Taxus Express, but that's unlikely to impress an interventional cardiologist community that has seen Express get dragged through the mud in recent meetings… With approval still 18 months away, we believe this product may not even end up being launched in the US,” the analysts mention.
Citi says, “18-month results were similar to prior 9-month results that showed JNJ's Cypher DES outperformed Medtronic's Endeavor DES. The results have been received with skepticism since Cypher performed better in this study and the Endeavor patient population had higher risk of restenosis… Results from today's highlighted trials were largely in line with expectations.” The analysts expect results from STOP-AF to enable Medtronic (NYSE: MDT) to gain share in the large and growing AF market,” the analysts add.
