Abbott LaboratoriesABT announced that it has entered into an agreement with Sekisui Medical to offer coagulation testing solutions for laboratories on a worldwide basis.
As per the terms of the agreement, Abbott Labs will be the exclusive distributor of Sekisui's new CP3000 coagulation instrument in the U.S., Europe and other regions that recognize CE Mark.
Abbott Labs expects that sales of the CP3000 will begin later in Europe, countries that recognize CE Mark and non-regulated countries in 2015, and in the U.S. in 2016. The company will also have non-exclusive distribution rights with Sekisui in China, Hong Kong, Japan and Macau.
Coagulation tests enable measurement of a person's blood clotting ability, which can enable doctors assess risks of excessive bleeding or developing clots.
The testing will help clinicians to assess patients prior to medical treatments and monitor those who take medications that may affect clotting. The tests are also useful for the diagnosis of blood-related disorders, such as hemophilia and thrombosis.
Abbott Labs is a diversified company with presence in diagnostics, nutrition, branded generics and medical devices, after having separated its pharmaceutical business into a new company called AbbVie ABBV in Jan 2013.
However, lackluster performance in the established pharmaceuticals division propelled the company to realign the segment and divest its branded generic business in developed markets. Growth has dampened in medical devices and diagnostics segment. Hence, Abbott Labs has been putting efforts on boosting its diagnostics segment.
Abbott Labs currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the health care sector include Mallinckrodt plc MNK and Valeant Pharmaceuticals VRX . Both carry a Zacks Rank #1 (Strong Buy).
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