FDA Recommends Approval of Covidien’s Pipeline Embolization Device

Covidien plc (COV) today announced that the U.S. FDA Neurological Devices Advisory Panel voted unanimously to recommend approval for Pipeline Embolization Device, intended for the endovascular treatment of large or giant wide-necked intracranial aneurysms in the cavernous and paraclinoid regions of the internal carotid artery.

Pipeline is a new class of embolization device designed to divert blood flow away from the aneurysm in order to provide a complete and durable aneurysm embolization while maintaining patency of the parent vessel.

Shares of Covidien fell 20 cents, or 0.39%, to $51.48 in recent trading.

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