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Covidien to end blood pressure device program

Covidien (COV) says it will exit its OneShot renal denervation program, primarily in response to slower-than-expected development of the device's market.

Renal denervation devices are designed to help prevent the kidneys, which play an important role in regulating blood pressure, from contributing to hypertension.

The voluntary move comes after Medtronic (MDT) earlier this month said its experimental Symplicity renal denervation device failed to provide a benefit compared with a placebo procedure in a large clinical study.

COV expects to record related charges of $20M-$25M.

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