St. Jude Medical
received Food and Drug Administration approval for new stented tissue heart valves, the medical-device maker's first such products in the U.S. market.
The regulatory clearance covers the SJM Biocor and Biocor Supra family of stented tissue valves. Stented tissue valves make up 60% of the U.S. market for heart valves, according to St. Jude. The company said Monday it expects to start selling the Biocor and Biocor Supra valves in the third quarter.
"Today's announcement marks a significant milestone as St. Jude Medical adds to its expanding portfolio of tissue valves and other innovative technologies for cardiac surgeons and their patients," the St. Paul, Minn., company said in a press release.
Shares of St. Jude were trading at $46.65, up 25 cents from Friday's close.