- 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.
Covidien to end blood pressure device program
Jan 21 2014, 09:04 ET