Devices & Diagnostics

Abbott stock down despite strong Q2 sales, earnings

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, […]

Devices & Diagnostics

Cypher matches Xience V? So says a new Cordis study

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.

MedCity Influencers

Abbott’s Q2 sales surge, but profits flat

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 […]

MedCity Influencers

Abbott trims stent operations

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 […]

MedCity Influencers

New device study: Promus Element v. Xience Prime

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 […]

Health IT

Morning Read: One month to apply for $5 million

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 […]

Devices & Diagnostics

Major study of carotid stents may help local medical device makers

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 […]