) recently announced that its Absorb Bioresorbable Vascular
Scaffold (BVS) device has moved into a phase III study, ABSORB
III, in the US.
The randomized, controlled study will enroll 2,250 patients
and will compare Absorb BVS's performance to the company's Xience
drug eluting stents. We note that Absorb is available in Europe
and some Latin American and Asia Pacific nations. ABSORB III data
would be used to support regulatory filings in the US.
We note that Abbott recently gained US Food and Drug
Administration (FDA) approval for its Xience Xpedition everolimus
eluting coronary stent system. Xience Xpedition will be launched
immediately in the US.
Abbott sells coronary, endovascular, structural heart, vessel
closure and other medical device products on a worldwide basis
through its vascular products segment. The company is
consistently working on boosting its vascular products portfolio
and expects to launch several products in the next five
Abbott recently separated its research-based pharmaceuticals
business by creating a new company -
). The decision to spin off the business was taken back in
October 2011 when Abbott decided to separate its business into
two publicly traded companies - one in diversified medical
products and the other in research-based pharmaceuticals.
We are positive on the split which should allow the two
separate entities to perform in a more focused manner.
We currently have a Neutral recommendation on Abbott
Laboratories. The stock carries a Zacks Rank #4 (Sell). Right
) looks attractive with a Zacks Rank #1 (Strong Buy).
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