Dallas, Texas 07/21/2015 (Financialstrend) – St. Jude Medical, Inc. (NYSE:STJ) has received the FDA approval for the industry’s first MR-Conditional 5-Column Paddle Lead, for use in managing chronic pain. Available for use with the company’s lead Protégé MRI System, the paddle lead will allow patients to undergo safe head and extremity MRI scans. The approval follows the recent approval of the MR-conditional labeling for Octrode percutaneous leads.
Lateral Simulation Enhanced
The approval is a big achievement for St. Jude Medical, Inc. (NYSE:STJ), which has over the past year introduced a series of MR-conditional implantable pulse generators with a view to improving chronic pain therapies. Penta Paddle lead is designed to give physicians the broadest area for lateral simulation coverage, expected to enhance selective stimulation of nerve fibers.
Specific targeting should make it is easy for physicians to tailor therapy to patient’s unique pain pattern. St. Jude Medical, Inc. (NYSE:STJ) group president Eric S Fain believes the recent approvals adds to the company’s chronic pain portfolio, which should enhance further growth of the neuromodulator business. The company plans to improve the access of its industry leading chronic pain therapies especially for patients who need head and extremity MRI scans.
Approval of Invisible Trial System
Chronic pain affects more than a billion people worldwide providing a huge market base for St. Jude Medical, Inc. (NYSE:STJ) therapies. The condition is widespread than heart disease cancer and diabetes combined.
St Jude Medical has also seen its Invisible Trial System receive the FDA approval having received the CE Mark in June. The wireless system leverages Apple Inc. (NASDAQ:AAPL) technology to provide patients an improved and discreet spinal cord stimulation trial experience, seen as an effective way of managing chronic pain. The new system makes it easy for patients to evaluate their SCS therapy.
TheStreet research firm currently rates St Jude as a ‘Buy’ citing strengths in its solid stock performance as well as growth in earnings per share in the recent quarter.