Cordis Announces Discontinuation of NEVOâ„¢ Sirolimus-Eluting Coronary Stent

BRIDGEWATER, N.J., June 15, 2011 /PRNewswire-FirstCall/
— Cordis Corporation, a worldwide leader in the development and
manufacture of interventional vascular technology, today announced
it will no longer pursue the development of the NEVO™
Sirolimus-Eluting Coronary Stent in order to focus on other
cardiovascular therapies where significant patient need exists. The
company will also stop the manufacture of CYPHER® and CYPHER
SELECT® Plus Sirolimus-Eluting Coronary Stents by the end of
2011.

“Due to evolving market dynamics in the drug-eluting stent (DES)
business, we see greater opportunities to benefit patients and grow
our business in other areas of the cardiovascular device market,”
said Seth Fischer, Company Group Chair and Worldwide Chairman,
Cordis Corporation.  “Cordis has been a leader in establishing
many markets including diagnostic and guiding catheters, bare metal
and drug-eluting stents, carotid stenting, and treatment of
peripheral vascular disease and arrhythmias. These therapies have
benefited millions of patients worldwide, saving lives and
improving quality of life, and we will continue to bring innovative
cardiovascular solutions to patients in the future.”

The company will continue to focus on cardiovascular care
through its Biosense Webster and Cordis businesses:

Biosense Webster will continue to build and expand on its
global leadership position in the $2.5 billion electrophysiology
(EP) market, as an innovative provider of advanced cardiac
diagnostic, therapeutic, and mapping tools. As the leader in EP
navigation systems and ablation therapy, Biosense Webster has
technology that includes the largest installed base of cardiac
mapping navigation systems worldwide in leading hospitals and
teaching institutions and a robust product pipeline.

Cordis will expand its portfolio of vascular solutions
for endovascular and cardiology procedures, a $12 billion market.
The business

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