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http://www.businessweek.com/magazin...62.htm?chan=top+news_top+news+index_top+story
The stir over stents has jolted a whole industry that took shape in the 1990s to cash in on the device's popularity. Boston Scientific (BSX ) and Johnson & Johnson (JNJ ), both of which make drug-coated stents and for which Sharma has performed many clinical trials, have slipped badly. With stent procedures down 13% nationally this year, Boston Scientific's stock is off 17%, and the company is expected to announce layoffs; J&J has said it will lay off more than 3,400 people, including many in its stent business. JPMorgan Chase (JPM ) estimates that sales of drug-coated stents will drop 23% in 2007, to $4.1 billion.
The stir over stents has jolted a whole industry that took shape in the 1990s to cash in on the device's popularity. Boston Scientific (BSX ) and Johnson & Johnson (JNJ ), both of which make drug-coated stents and for which Sharma has performed many clinical trials, have slipped badly. With stent procedures down 13% nationally this year, Boston Scientific's stock is off 17%, and the company is expected to announce layoffs; J&J has said it will lay off more than 3,400 people, including many in its stent business. JPMorgan Chase (JPM ) estimates that sales of drug-coated stents will drop 23% in 2007, to $4.1 billion.
