) recently announced its collaboration with
Johnson & Johnson's
) Janssen Biotech, Inc. and Pharmacyclics, Inc. to explore
Abbott's proprietary FISH (fluorescence in situ hybridization)
technology for further use.
Abbott's FISH technology will be primarily investigated for
developing a molecular companion diagnostic test.
The prime aim of this diagnostic test will be to identify
patients with a genetic subtype of chronic lymphocytic leukemia
FISH technology can identify whether excessive or scarce
copies of a particular gene are present in the cells. It can also
detect whether certain genes have rearrangements that activate
disease progression. It is particularly useful for identifying
genetic markers in solid tumors thereby enabling the diagnosis of
These CLL patients have a deletion within a specific
chromosome and may respond to ibrutinib.
We remind investors that Janssen Biotech entered into a
worldwide collaboration with Pharmacyclics, Inc in Dec 2011 to
co-develop and co-commercialize ibrutinib for several B-cell
malignancies, including chronic leukemia and lymphoma.
In 2011, the US Food and Drug Administration (FDA) cleared
Abbott's Vysis CLL FISH Probe Kit, which enables to determine
prognosis for patients with CLL. Nonetheless, Abbott plans to use
its Viysis CLL FISH Probe Kit only for determination of genetic
marker status as per the co-development agreement among Janssen,
Pharmacyclics and Abbott.
We note that Abbott separated its business into two
publicly-traded companies on Jan 1, 2013 - one in diversified
medical products and the other in research-based
Abbott is keen to further develop its diversified medical
products business with renewed focus. The stock current carries a
Zacks Rank #4 (Sell). Large-cap pharma companies that currently
look attractive include
). Both are Zacks Rank #2 (Buy) stocks.
ABBOTT LABS (ABT): Free Stock Analysis Report
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