FDA looks again at Boston Scientific anti-stroke device

FDA looks again at Boston Scientific anti-stroke device

Mon, Dec 9 2013

By Susan Kelly

(Reuters) – U.S. Food and Drug Administration staff reviewing data on Boston Scientific Corp’s novel anti-stroke device highlighted the implant’s failure to meet a key goal for effectiveness in a recent study but said on Monday that other data must be weighed in deciding whether it should be approved.The FDA released documents about the device, called Watchman, ahead of a meeting on Wednesday of outside medical experts who will consider its risks and benefits and then recommend whether the FDA should approve the product for use in patients.

The device, implanted on the heart to prevent stroke in patients with a dangerous cardiac rhythm known as atrial fibrillation, was developed as an alternative to clot-preventing blood thinners. If approved, it could spare heart patients a lifetime of taking anticoagulant drugs, such as warfarin, that carry a high risk of bleeding.

An FDA advisory panel in 2009 recommended approval of the first-of-its-kind device, but the agency ultimately decided another study was needed to evaluate its safety and effectiveness.

The second clinical trial, however, failed to meet a key goal showing the device to be as effective as warfarin in preventing stroke.

FDA staff on Monday said the expert panel will need to consider follow-up results from the first trial, data from a patient registry and the new study results in making its recommendations.

“It is critical that advisory panel members review the totality of the data in making these determinations as each component of the data set has strengths and limitations,” the FDA reviewers said.

Wells Fargo analyst Larry Biegelsen said he believes the FDA will approve the device, but cautioned that Wednesday’s meeting could be contentious. Key issues for the panel will be the missed goal in the newer study, as well as implications of new oral anti-coagulants on the market, he said.

“The FDA stresses a number of times in the briefing documents that the panel members should consider the totality of the data, which we think is a positive sign,” Biegelsen said in a research report.

Boston Scientific acquired the Watchman device when it bought Atritech in March 2011. It has been on the market in Europe since 2005.

People with atrial fibrillation, the most common type of arrhythmia, are five times more likely to suffer a stroke than those without the condition. It affects nearly 3 million people in the United States and that number is expected to increase.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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