C.R. Bard (NYSE:BCR) said today that it inked a deal with Boston Scientific (NYSE:BSX) for limited U.S. distribution of its Lutonix drug-eluting balloon, a treatment for peripheral artery disease.
Further terms of the deal were not disclosed.
Bard won pre-market approval from the FDA last October for the Lutonix DEB, which Bard acquired for $325 million in late 2011.
"Drug-coated balloons are a growing part of the treatment algorithm for peripheral artery disease and provide an alternative in the event a physician chooses not to place a permanent implant or scaffold," Boston Scientific peripheral interventions president Jeff Mirviss said in prepared remarks. "We believe Bard’s Lutonix DCB is a great addition to our broad portfolio of vascular products.”
“This agreement is designed to expand the reach of the Lutonix DCB and will afford more patients suffering from peripheral artery disease an opportunity to benefit from this innovative technology and clinically-proven therapy," added Bard peripheral vascular president Steve Williamson.