Medtronic Inc. on Thursday discontinued development in the U.S. on what many considered one of the most promising potential therapies for high blood pressure that cannot be controlled by medication.
The Fridley-based med-tech giant ended a large U.S. trial for its Symplicity renal denervation system, which seeks to control hypertension by burning nerves in the kidneys. The company said the technology was ineffective.
The news puts the future of renal denervation, and what some analysts predicted could become a $3 billion worldwide market, in doubt.
About 1.2 billion people worldwide suffer from high blood pressure and about one-third of them have a kind that doesn't respond to medications.
Medtronic, St. Jude Medical Inc., Boston Scientific Corp. and dozens of other companies around the world had been racing to take advantage of what was seen as a promising therapy.
In addition to ending the U.S. trial, which involved 535 patients at 87 medical centers, Medtronic also said it would stop recruiting patients for clinical trials in Japan and India. The company added that it will tell medical investigators of its findings and create a panel of independent advisers to make recommendations on what to do next.
"I think there's a lot of work to do to understand and evaluate what these findings mean," said Wendy Dougherty, a Medtronic spokeswoman.
Medtronic stock dropped $1.48, or 2.4 percent, on the news. Medtronic said it will continue to make its device available to overseas patients in countries where it had been previously approved for sale.