Following on from the news that Medtronic’s SYMPLICITY HTN-3 study failed to meets its primary efficacy endpoint, Covidien has announced it will exit its OneShot renal denervation programme. The company states that this “voluntary action” is primarily in response to a slower than expected development of the renal denervation market and that the decision resulted from Covidien’s regular review of strategic programmes and growth potential for various aspects of its product portfolio.
According to a press release, as a result of this decision, the company will not proceed with its RAPID II randomised study. Additionally, the company expects to record after-tax charges in the range of US$20 to US$25 million as a result of exiting the OneShot programme.
The press release reports that over the next several weeks, the company will collaborate with physicians and the renal denervation community to ensure existing OneShot patients are informed and the currently enrolling clinical trials are transitioned appropriately.
It adds that Covidien believes that the long-term hypertension market remains attractive and will continue to explore opportunities in this area.