Boston Scientific vs Johnson & Johnson: Battle for the Stent Market
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Code : COM0033
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Region : USA
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Introduction:Stent is a revolutionary medical device that promises to save lives and obviate even more number of open-heart surgeries. This medical device, measuring 33 mm and weighing 27-thousandth part of a gram, is used in angioplasty procedures to prevent arteries from blocking the flow of blood, thereby reducing the risk of a heart stroke. In this high-precision manufacturing of stent devices, only four companies battled for the market leadership – Johnson & Johnson, Boston Scientific, Guidant and Medtronic. Introduced in 1994 by Johnson & Johnson, the first stent generated sales of over $1 billion and commanded 90% of the US market. After three years, Guidant introduced an enhanced version and, within 45 days, emerged as the market leader with 70% of the market. In the following years, Minneapolis-based Medtronic and Boston Scientific, after rebuffing J&J's hostile takeover bid, entered the scenario with their stents. Between 1998 and 2003, it was neither J&J nor Boston Scientific that was themarket leader; Guidant with around 40% was ruling the market followed closely by Medtronic. The five years also witnessed a spate of lawsuits concerning patent infringements and inferior manufacturing processes... |
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