Guidant, the US healthcare group employing 840 people in Clonmel, Co Tipperary, has been given a major fillip after a new study showed that implantable defibrillators - such as those manufactured in Clonmel - reduce deaths in heart attack victims by 30 per cent.
Shares in Guidant and other defibrillator makers rose sharply on news of the test results. An independent safety-monitoring board stopped the study early because heart-attack patients receiving the device, which monitors and restores normal heart rhythm, improved significantly compared with those who received only drug treatment.
Analysts believe the results of the study will stimulate growth in the current $1.9 billion (€2.15 billion) market for implantable defibrillators.
"With this landmark study, we think the annual growth of the implantable defibrillator market can expand, benefiting all three players," Credit Suisse First Boston analyst Mr Glenn Novarro said.
Guidant has asked the US Food and Drug Administration to find more patients eligible for the implants. About 300,000 patients in the US are eligible.
