) recently announced encouraging initial results from a study on
its ARCHITECTSTAT High Sensitive Troponin-I (hsTnI) test.
The study is being conducted by researchers at the University
of Edinburgh. The initial results from the study showed that the
test can help the doctors improve the diagnosis and prognosis of
patients with symptoms of heart attack.
Abbott further stated in its press release that the test could
be particularly helpful for women who might have different
symptoms and often are under-diagnosed. The test received
CE Mark in Jan 2013. However, the test is not yet approved in the
U.S., and is being used only for research purposes.
We note that Abbott Labs continues to invest in the
development of next-generation instruments and other advanced
technologies in its diagnostics business. In Jun 2013, Abbott
Labs launched its hepatitis C virus genotyping test following
approval by the U.S. Food and Drug Administration.
Abbott Labs' diagnostics business generated sales of $1.1
billion in the second quarter of 2013, up 5.3% year over year.
The business is expected to post high single-digit growth in the
third quarter of 2013 (excluding currency impact) driven by solid
growth across all categories.
Abbott Labs is currently investing in six new system platforms
across its three diagnostic businesses. We are encouraged by
Abbott Labs traction in its diagnostics business and expect
further momentum from new tests.
We remind investors that Abbott Labs became a diversified
medical products company focusing on branded generic
pharmaceutical, medical devices, diagnostic and nutritional
businesses following the separation of its research-based
pharmaceuticals business into a new company,
), in Jan 2013.
We believe the diversification bodes well for Abbott Labs and
should enable the company to counter the challenging business
environment as a result of austerity measures undertaken by
developed markets in 2013 coupled with weak economic conditions
Abbott Labs currently carries a Zacks Rank #3 (Hold).
) look well placed in the medical sector. While Alere carries a
Zacks Rank #1 (Strong Buy), Exactech carries a Zacks Rank #2
ABBVIE INC (ABBV): Free Stock Analysis Report
ABBOTT LABS (ABT): Free Stock Analysis Report
ALERE INC (ALR): Free Stock Analysis Report
EXACTECH INC (EXAC): Free Stock Analysis
To read this article on Zacks.com click here.