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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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