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Biocoatings: Not Just the Icing on the Cake

The successful commercialization of drug-eluting stents (DES) has done much to pave the way for the biocoating industy. DES not only helped establish a new regulatory body to facilitate device-drug reviews, the FDA Office of Combination Products, they also proved that biocoated devices could take market share from uncoated products, command premium pricing and premium reimbursement.

Ten years ago, SurModics Inc. , one of the few sizeable "pure play" companies in the biocoating field with revenues of just abut $5 million after 15 years in business, was regarded as one of those rather prosaic industrial service kinds of company, providing chemistry services to the medical device industry. But in the past five years, the company has gone public, raising $17.25 million in 1998 [See Deal], and has enjoyed exponential sales and profitability growth. Sales have risen from $13.5 million in 1999 to $43 million in 2003. What happened? SurModics was the manufacturer of the coating for the first drug-eluting stent to hit the market—the Cypher stent of Johnson & Johnson 's Cordis Corp. division.

The clinical success of drug-eluting stents—it's tough to beat zero percent restenosis—has translated into business success. Johnson & Johnson was...

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• By Marion Webb

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• By Natasha Barrow

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