Cardiovascular devicemaker Guidant Corp., Indianapolis, announced it would buy privately held Cook Group, Bloomington, Ind., in a stock transaction valued at up to $3 billion. The deal will give Guidant an undisputed stake in the emerging market for drug-coated stents, a still largely experimental product meant to prevent arteries from re-narrowing after angioplasty. The deal is subject to certain clinical and legal conditions, including positive clinical results in a trial of Cook's drug-coated stent, and is expected to close early next year. Drug-coated stents will represent a projected 58% of the coronary stent market in their first year of introduction, growing to 88% in the second year, Banc of America analysts have estimated. -- by Cinda Becker
Guidant to buy Cook, shaking up stent market
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