Johnson & Johnson's Cordis unit of Miami Lakes, FL, has signed a technology development and promotion deal with Guidant of Indianapolis regarding drug-eluting stents and stent-delivery systems.
Under the terms of the deal, both companies will have sales and marketing rights to the Cordis Cypher sirolimus-eluting stent in the U.S., with an option for a similar arrangement in Japan.
In addition, Cordis will gain access to Guidant's current and next generation of technologies for delivering coronary stents. The companies plan to immediately start development on a Cypher stent that uses Guidant's Multi-Link Vision stent-delivery system.
Cordis retains clinical, manufacturing, and order-fulfillment responsibilities for Cypher in the U.S. The companies will collaborate on marketing and sales strategies for Cypher, but will bear most marketing and sales costs separately. The companies said that the deal doubles the size of Cypher's field-support organization in the U.S.
By AuntMinnie.com staff writersFebruary 27, 2004
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