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Abbott Labs Presents Positive One-Year Data on Absorb - Analyst Blog

Abbott Laboratories ( ABT ) announced positive one-year results from the randomized, controlled trial ABSORB II, on its drug-eluting coronary bioresorbable vascular scaffold (BVS) Absorb.

The trial, conducted in Europe, compared the safety and efficacy of the dissolving Absorb to Abbott Labs' Xience family of drug-eluting stents (DES) in patients suffering from coronary artery disease (CAD).

The data from the trial showed that patients treated with Absorb experienced a significantly lower rate of angina (chest pain) compared to those treated with the Xience family of DES.

We note that Absorb obtained the CE mark in Europe in Jan 2011 but is yet to be approved in the U.S.

The vascular portfolio of Abbott Labs boasts of DES such as the Xience series and Absorb.

The portfolio has been further strengthened by a number of recent favorable updates. In Mar 2014, the FDA approved the company's Supera peripheral stent system for the treatment of patients with blocked blood vessels in the upper leg caused by peripheral artery disease (PAD).

The vascular business is an important part of Abbott Labs' product portfolio generating sales of $1.5 billion in the first half of 2014. Of the total vascular sales, approximately $738 million came from the DES and BVS product portfolio. The continued rollout of Absorb and Xience Xpedition along with new products such as Supera stents will further strengthen Abbott Labs' vascular portfolio in 2014.

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, AbbVie Inc. ( ABBV ), in Jan 2013.

Abbott Labs currently carries a Zacks Rank #2 (Buy). Investors may also consider stocks like Allergan ( AGN ) and Gilead Sciences ( GILD ). Both carry a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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