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TWST: Please give us an overview of what you're covering in the medical
device space.
Mr. Cooley: I have responsibility at FTN Midwest Securities for coverage
of the medtech universe, specifically the ophthalmic and the cardiac
sectors respectively. TWST: Why those two? What makes them interesting?
Mr. Cooley: Let's just take a minute on each segment. In my opinion,
there are three factors which make the ophthalmic universe interesting.
First, you're seeing an emergence of new therapies or modalities
designed to treat previously unmet or underserved clinical needs which
expand the total market opportunity for companies in the sector. Second,
opportunities associated with international markets are increasing in
importance not only in terms of scope but also profitability. Finally,
you're seeing an acceleration in corporate growth and profitability as a
result of the favorable product mix shift toward these new therapies
throughout the industry. I would use the analogy that ophthalmology
today is what interventional cardiology, in my view, was five to seven
years ago in terms of the way the players stack up and their product
cycles and pipelines are in queue.
Tickers included in this excerpt: ACL, AGN, AMO, BOL, BSX, CONR, EW, EYE, ILSE, JNJ, MDT, STJ
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