defibrillator

The FDA‘s nod of disapproval on Ventritex Inc.’s implantation of heart regulating devices in the chest area, has sent the shares of the company plummeting down within a day, despite heavy trading.

The shares fell as low as $18.375 before closing at $18.75, down $2, in Nasdaq trading.

The F.D.A. in a process of approval of heart regulating devices of both Ventritex and its rival company Guidant although approved defibrillators, implantable devices that stabilize heartbeats, developed by Ventritex and The Guidant Corporation of Indianapolis both.

However, at the same time it specified that the Guidant defibrillatordefine was approved for implantation in the upper chest near the shoulder, which places the device close to the heart whereas, the Ventritex device was approved for abdominal implantation, which is more obtrusive and requires more surgery.

Nevertheless the FDA allows doctors a free hand to use either device in the pectoral region, only Guidant can promote its device for that use.

Also, Guidant's device is smaller and lighter than Ventritex's, an analyst for J. P. Morgan said.

Quite expectantly where on one hand the shares of Ventritex took a nose dive, Guidant's shares rose $3.125, to $40.50, on the New York Stock Exchange.