FDA Approves Medtronic's Hypertension Device Despite Initial Doubts From Adcomm Panel
Portfolio Pulse from Vandana Singh
The FDA has approved Medtronic plc's Symplicity Spyral renal denervation system for treating hypertension. Despite initial doubts from the FDA Circulatory System Devices Panel, which was divided on the benefit/risk profile, the device will now be commercialized by Medtronic. The Symplicity procedure is minimally invasive and is already approved in over 70 countries. Medtronic's stock (MDT) rose 1.12% in premarket trading following the announcement.
November 20, 2023 | 12:57 pm
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POSITIVE IMPACT
Medtronic's Symplicity Spyral system for hypertension has been approved by the FDA, paving the way for immediate commercialization. The approval comes despite initial concerns from an FDA panel. Medtronic's stock increased by 1.12% in premarket trading.
The FDA approval of Medtronic's hypertension device is a significant positive development for the company, likely to boost investor confidence and drive short-term stock performance. The premarket stock price increase indicates a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100