JIG meets Monday - usual time and place.
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
Per our meeting on Monday, our holdings of Dodge & Cox were sold yesterday @38.34 per share for a realized gain of $382.95.
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
Reminder - JIG meets Monday at my house.
Hope all have a happy Easter weekend!
Betsy
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
>From the Star and Sickle
Good news for Medtronic, BoSci?
Bruising battle shaping up in stents
Article by: , Star Tribune
Updated: April 5, 2011 - 4:49 PM
Reports from a major meeting of cardiologists this week suggest a shift may
be on the way in the market for drug-coated heart stents.
Both Fridley-based Medtronic Inc. and Boston Scientific Corp. introduced results
from separate studies indicating their next-generation stents are superior to older
versions.
Wells Fargo analyst Larry Biegelsen said in a note to investors that the evidence suggests
that Medtronic and Boston Scientific's products could account for 21 to 23 percent
of the $3.8 billion worldwide market by 2014.
That means Illinois-based Abbott Laboratories' recent domination of the
market will come under fire.
Stents are tiny metal sleeves that prop open clogged heart arteries. When coated with
drugs, vessels are less likely to reclog.
Medtronic's stent, called Resolute, is the new version of its original Endeavor product. The
stent is designed to release its drug into the body more slowly, preventing the artery
from renarrowing and minimizing repeat treatments.
The company's study involved 1,402 patients in the United States and found that
4.7 percent treated with the newer stent died for heart-related reasons, suffered a heart
attack or needed retreatment within a year. The older Endeavor stent had a 6.5 percent
rate of complications.
The companies are presenting the data at the American College of Cardiology meeting
in New Orleans.
The Resolute stent is not yet available in the United States, but data from the study
released Monday will be used to bolster the company's submission to the Food and Drug
Administration (FDA) for approval. Medtronic says the FDA's decision is
expected in the first half of 2012.
Morgan Stanley analyst David Lewis said investors continue to "underappreciate the
market potential" of the Resolute stent.
"First-generation Endeavor was largely relegated to a niche market," he wrote, "but
we believe Resolute will compete squarely" with rival stents from Boston Scientific and
Abbott.
The news failed to move Medtronic's stock Monday -- shares closed at $39.43, down 7
cents.
A separate study involving 1,530 patients showed Boston Scientific's next-generation
Promus Element stent is similar to earlier iterations of the device. The original version
of Promus is identical to Xience, the market-leading stent made by Abbott -- part of a
licensing agreement struck by the two companies when Boston Scientific bought
Guidant Corp. in 2006.
Death from cardiac causes, heart attacks and retreatment occurred in 3.4 percent of
patients with the new Promus Element stent, compared with 2.9 percent of those treated
with the older device. Rates of deadly clots in patients were identical at 0.4 percent, with
re-treatment in 1.9 percent of patients in both groups.
Showing similar clinical results to the existing Promus stent is important to Boston
Scientific because the company's supply agreement with Abbott ends in mid-2012,
analysts said. After that, the company will have to produce its own version of the
product.
Monday's study results will be used to pursue regulatory approval in the United
States -- where the domestic market for drug-coated stents is now valued at more
than $2 billion, according to the Millennium
Research Group.
Leerink Swann analyst Rick Wise said clinical results should "ease investor anxiety about
[Boston Scientific's] ability to achieve FDA approval for Promus Element and
successfully transition its Promus sales to Element."
Boston Scientific's stock closed Monday at $7.23, down 7 cents.
Dr. Martin Leon, of Columbia University/New York Presbyterian Hospital and lead
researcher in the Medtronic study, said cardiologists will determine which device to
use in patients based on subtle differences and personal preference. He compared the
products to luxury automobiles made by Audi and BMW.
"It's tough," he said. "These are all best-in-class."
Bloomberg News contributed to this report.
Janet Moore .
612-673-7752
--
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* Dr. James Ellingson, jellings(a)me.umn.edu *
* mobile : 651/645-0753 *
* Great Lakes Brewing News, 1569 Laurel Ave., St. Paul, MN 55104 *
* james(a)brewingnews.com James.Ellingson(a)StThomas.edu *
The date of the April JIG meeting has been changed to April 25, 2011. The meeting will be at my house.
Al - I will e-mail your Schedule K-1 via a secure e-mail.
Betsy
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
JIG is scheduled to meet tonight at John and Karen's. We have a proxy from Maryellen.
John & Karen Komp
10725 Jersey Dr.
Brooklyn Park, MN 55445
John's Cell: 763-360-8800
Al - You're only paid up through January, so if you don't make it tonight, send me a check:
Betsy Kremser
1373 Spencer Rd W
Saint Paul, MN 55108
Betsy
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
The buy order we entered at last night's JIG meeting for 200 shares of Avenet, Inc. (AVT) was executed at $35.49 with a $9.99 commission fee for a total of $7,107.99.
Betsy
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
Just a reminder that JIG meets Monday night at John and Karen's:
10725 Jersey Dr. N
Brooklyn Park, MN 55445-2317
John's cell: 763-360-8800
NOTICE: Unless restricted by law, email correspondence to and from Anoka County government offices may be public data subject to the Minnesota Data Practices Act and/or may be disclosed to third parties.
Greetings,
Way back when, last year and all, we decided to meet at John and Karen's.
IS it tomorrow, aka MLK day? or is it a week from tomorrow
Cheers,
Jim
--
------------------------------
* Dr. James Ellingson, jellings(a)me.umn.edu *
* mobile : 651/645-0753 *
* Great Lakes Brewing News, 1569 Laurel Ave., St. Paul, MN 55104 *
* james(a)brewingnews.com James.Ellingson(a)StThomas.edu *
*Please note, the sender's email address has not been verified.
Part II...
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