Cyberonics
This article was originally published in The Gray Sheet
Executive Summary
Boston Scientific plans to increase its stake in the vagus nerve stimulation (VNS) technology firm from nearly 15% to up to 20% of outstanding shares, after a Dec. 10 shareholder rights plan amendment clears the way. Signaling the potential for broader ties down the road, the move follows a roughly $50 mil. Boston Scientific investment earlier this year (1"The Gray Sheet" June 16, 2003, In Brief). Cyberonics, which holds FDA approval for adjunctive, drug-resistant epilepsy treatment, simultaneously announced the agency accepted for filing its October PMA supplement submission for adjunctive, drug-resistant depression treatment Dec. 9 (2"The Gray Sheet" Nov. 10, 2003, In Brief). Cyberonics has projected potential depression sales of over $1 bil. by 2010...