Cook's New Chef Tries a Different Recipe
Top management changes at Cook are bringing subtle shifts in the company's attitude towards the marketplace. John DeFord, who has been at the company for 15 years is now president and CEO of its interventional products business, replacing Phyllis McCollough, who moves up to Chairman and EVP of operations for all of Cook Group. DeFord is spearheading Cook's new, more aggressive, opportunistic approach. A noteworthy example: Cook is embarking on a series of distribution deals with a competitor, stent market leader Guidant.
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Sometime in the next year or so, Cook officials hope to enter the market for peripheral vascular grafts for abdominal aortic aneurysms, a highly competitive field currently attracting companies such as Medtronic Inc., Boston Scientific Corp. and Guidant Corrp., which last year purchased AAA leader Endovascular Technologies Inc.
Effective medical device regulation supports both safety and innovation needs. This article assesses how well the US FDA and the Australian TGA achieve this balance.