Quantcast
 
Read Larry Connors' blogShort Term Trading Strategies


 

Tests keep Temecula stent factory busy

Wed. June 17, 2009; Posted: 03:42 PM
Stocks RSS
Jun 17, 2009 (The Press-Enterprise - McClatchy-Tribune Information Services via COMTEX) -- ABT | Quote | Chart | News | PowerRating -- Abbott Laboratories, whose drug-coated heart stent, Xience V, captured a strong following among doctors within months of hitting the market last year, has started testing its follow-up product.

The company, which manufactures stents in a factory in Temecula, said in a statement Tuesday it is beginning clinical trials of Xience Prime. The new stent, which may be three years away from coming to market, is one of two being tested by the Abbott Park, Ill.-based company.

The two stents in the pipeline could keep employees at its Temecula facility busy well into the next decade. The factory, one of the largest manufacturing facilities in Inland Southern California, employs about 4,000 people and is the only plant that makes Abbott's stents in North America.

Stents are tiny, wire-mesh tubes that are inserted into blood vessels, usually through an incision made in the abdomen.

They are designed to keep clogged blood vessels open, usually following an angioplasty procedure, and are coated with drugs and polymers to prevent blood clots and reduce inflammation.

Along with Xience Prime, Abbott is developing a stent that dissolves in blood vessels over time, said Jonathon Hamilton, senior director of public affairs for Abbott Vascular. That product will start its second phase of testing in March, he said.

Xience V and Promus, the Abbott-developed stent being marketed by Boston Scientific, have combined to capture more than half the United States market since it was introduced last summer, company officials told analysts during their most recent earnings conference call in April.

At that conference call, RBC Capital Markets analyst Glenn Navarro asked why Xience V sales seemed to have leveled off in the first two months of this year. Miles White, Abbott's chief executive, said it was likely because a new stent, Taxus Liberte, came to market.

Doctors have said Abbott's stents are easier to implant than competitors', and Hamilton said Xience Prime is designed to use that advantage.

"If you can make a more deliverable stent that you can get smoothly to where the lesion is, doctors are going to like it," Hamilton said. "We're always studying ways to make it thinner and more deliverable."

The clinical trials will involve some 500 patients willing to carry an experimental stent in their circulatory system.

Hamilton said these patients first have to be recruited, then monitored for a long period of time before the stent can be brought to the U.S. Food and Drug Administration for approval.

That is why Abbott is unclear when Xience Prime can be sold in the United States, but Hamilton said the best guess now is the first half of 2012.

To see more of The Press-Enterprise or to subscribe to the newspaper, go to
http://www.pe.com. Copyright (c) 2009, The Press-Enterprise, Riverside, Calif.
Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.
For full details on Abbott Laboratories (ABT) click here. Abbott Laboratories (ABT) has Short Term PowerRatings of 5. Details on Abbott Laboratories (ABT) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [ABT]
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.