A GlaxoSmithKline (NYSE:GSK) cancer drug program will be developed with a new companion diagnostic from Abbott (NYSE:ABT) as GSK moves to broaden its reach in personalized medicine. Abbott recently announced it would split into two companies, one focused on drugs and another focused on medical devices and diagnostics. Under the pact with GSK, Abbott’s […]
Abbott (NYSE:ABT) enrolled its first patients in a Japanese trial of the Absorb bioresorbable vascular scaffold. The Absorb stent opens clogged blood vessels and provides support to restore blood flow, and dissolves within about two years. Since the stent dissolves rather than leaving behind a metal scaffold, the treated vessel may be able to regain […]
Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) came out as the big players in the U.S. drug-eluting stent market, together staking claim to more than half of all DES revenues. In 2010, Boston Scientific reported $1.5 billion in DES sales and held a 33 percent market share in the U.S., led by its Taxus […]
There’s no pleasing some people. Abbott (NYSE:ABT) shares were down on Wall Street today, despite the health care products giant reporting strong second-quarter sales and earnings figures — including a nearly 100 percent top-line surge for its coronary stents business. The Abbott Park, Ill.-based conglomerate reported profits of $1.94 billion, or $1.23 per diluted share, […]
An unknown bandit made off with a trailer shipment of Abbot Laboratories’ (NYSE:ABT) blood glucose monitoring products, and the company is working with law enforcement officials to get it back. In the mean time, the company warned pharmacies and consumers against products with unusually low prices as an indication that they might be stolen. Abbott […]
Abbott had solid earnings to report, but problems in the pharmaceuticals portion of its business are triggering job cuts. About 2 percent of the company's global workforce will be let go. Its earnings--per-share expectations are also considered low.
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Abbott Laboratories Inc. (NYSE:ABT) goes before a Food & Drug Administration panel today, seeking to expand the indication for its RX Acculink carotid artery stent.
Citing results from the Sort Out IV trial, a head-to-head comparison of the two drug-eluting stents, Cordis chief scientific officer Dr. Campbell Rogers said the study confirms "the excellent sustained clinical outcomes consistently seen over the last 10 years." "The Sort Out consortium has used Cypher stent as the comparator in a number of studies and, to date, no newer stent has proven a benefit over Cypher stent in terms of safety or efficacy," Rogers said in prepared remarks.
Abbott (NYSE:ABT) posted flat second-quarter earnings despite a nearly 18 percent increase to its top line. The Abbott Park, Ill.-based medical products conglomerate reported sales of $8.83 billion for the three months ended June 30, up 17.8 percent compared with $7.50 billion during the same period last year. But net earnings were flat at $1.29 […]
Abbott Laboratories (NYSE:ABT) laid off 120 workers from its California stent-making operation. The Abbott Park, Ill.-based company laid off 101 workers from its Temecula and Murrieta vascular stent manufacturing facilities in the Golden State. The remaining 19 workers were let go from the company’s Santa Clara, Calif., location. Abbott spokesman Jonathon Hamilton wrote in an […]
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Boston Scientific Corp. (NYSE:BSX) set out to compare its new Promus Element drug-eluting stent system with Abbott’s (ABT) Xience Prime. The BSX-funded study will evaluate coronary revascularization outcomes in a 2,980-patient sample across 50 sites in France, Germany, Italy, Spain and the U.K. Former iterations of the Promus line were private-label versions of Abbott’s Xience V drug-eluting stents, but […]
Highlights of the important and the interesting from the world of healthcare: One month to apply for $5 million: Small drug and biomedical research firms will have a one-month window to apply for federal tax credits (or grants) that show “significant potential” to produce new drugs or meet unmet medical needs. Firms with less than 250 employees […]
Abbott (NYSE:ABT) won PMA clearance from the Food & Drug Administration for its TECNIS Multifocal 1-Piece intraocular lens, which the federal watchdog approved for treating cataract patients. The Abbott Park, Ill.-based medical products conglomerate said the lens, which is implanted in the eye after the removal of the cataract-occluded natural lens, corrects presbyopia. That’s a […]
Local medical device companies, including Boston Scientific Corp., Lumen Biomedical Inc. and ev3 Inc. in Plymouth, Minn. may benefit from a major government-funded study that concludes carotid stents are equally safe and effective as surgery to unblock clogged neck arteries. The long-awaited results from the Carotid Revascularization EndarterectomyVersus Stenting Trial (CREST), led by a Mayo […]
A federal judge denied Johnson & Johnson's bid to revive its $5.5 billion anti-competition and breach of contract lawsuit against Boston Scientific Corp. and Abbott over its abortive attempt to acquire Guidant Corp. in 2005.
