The cash cow is dead:
. . . safety questions about the stents have triggered steep sales declines and job cuts for the makers, and are expected to shrink the U.S. market by one-third this year — a $1 billion drop just four years after the tiny gizmos were introduced.
J&J is cutting nearly 5,000 jobs due in part to a stent decline after studies questioned the devices’ safety and effectiveness in preventing heart attacks and bypass surgery. Boston Scientific is preparing its own cuts after its stock hit a five-year low and its credit rating sank below junk-bond status.
(via PharmaGossip)
