Amid celebrating the first human use of its Symphony implantable heart pump for chronic heart failure patients, Abiomed (NSDQ:ABMD) unveiled a new ventricular assist device for its flagship Impella line of heart pumps.
Announced at the company’s annual investors’ day in New York, the new device is slated to hit the market some time next summer. Abiomed also has its sights set on entering the Japanese market in 2013.
The new Impella cVAD device is a "paradigm shift," according to Abiomed CTO Thorsten Siess. Unlike other VADS which are surgically implanted, the Abiomed product is inserted via catheter.
"We know that the cath lab may require, in certain cases, prolonged, profound support beyond what we can offer today," Seiss said.
Abiomed also has plans for the Land of the Rising Sun, where the Impella has been listed as a "critical need" device by major cardiac societies. Because there is virtually no use of heart transplants or VAD devices in Japan, a device like the Impella has an extra leg up there, according to the company.
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Analysts’ ups & downs
- Abiomed (NSDQ:ABMD): Rodman & Renshaw downgrades to "market underperform" from "market "perform," sets $13-per-share price target.
- Amgen (NSDQ:AMGN): Goldman Sachs upgrades to "sell" from "neutral," sets $57 price target.
- Baxter International (NYSE:BAX): Goldman Sachs downgrades to "buy" from "conviction buy."
- Covidien (NYSE:COV): Goldman Sachs boosts price target to $53, sets "buy" rating; Moody’s Investors Service reiterates "Baa1" rating, lowers outlook from "positive" to "stable."
- Thoratec (NSDQ:THOR): Goldman Sachs establishes coverage at "neutral," sets $33 price target.