Guidant Corp. said it will discontinue selling its stent system for abdominal aortic aneurysms and close the subsidiary that manufactured the product, EndoVascular Technologies, Menlo Park, Calif. The decision comes after the subsidiary pleaded guilty last week to 10 federal felony counts for covering up thousands of incidents in which the device malfunctioned. The company will ship the product and provide support through Oct. 1 and continue to support patients with the implant over the long term, Guidant said. Losses for closing the subsidiary will be as much as $125 million in 2003, including the $92.4 million settlement of the federal case, Guidant said. The company said the long-term safety and efficacy of the stent system "has been well-documented, and patients should continue with routine care and follow-up per their physicians' recommendations." -- by Cinda Becker
Guidant to stop selling stent system, close unit
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