After rising more than 31 points to heights never before reached, the medtech industry returned to normal this past week. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 23) at 115.54 points, a total that, had it not been for the previous week, would […]
Abbott
COVID-19 testing boosts Abbott in Street-beating Q2
Abbott (NYSE:ABT) shares took a small dip despite second-quarter results that topped the consensus forecast. The Abbott Park, Ill.-based company posted profits of $1.2 billion, or 66¢ per share, on sales of $10.2 billion for the three months ended June 30, 2021, for a more-than doubled bottom-line on sales growth of 39.5%. Adjusted to exclude […]
MedTech 100 roundup: Industry continues climb
One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark […]
Abbott to pay $66M to settle suits involving St. Jude Medical and Alere
Abbott (NYSE:ABT) has reached settlements with the U.S. Department of Justice over False Claims Act lawsuits involving St. Jude Medical and Alere — two companies it spent billions of dollars to acquire in 2017. The Abbott Park, Ill.-based medtech giant will pay nearly $66 million as part of the settlements. Without admitting liability in either […]
Abbott laying off hundreds of workers as COVID-19 testing demand drops
Abbott (NYSE:ABT) is reportedly laying off as many as 400 workers in Maine as a result of a drop in demand for its COVID-19 diagnostics. WMTW-TV in Portland, Maine reported that about 300 Abbott employees will be laid off in Westbrook, as confirmed by the town’s mayor. Additionally, the station reported that about 100 workers […]
Abbott to sell its STARLIMS informatics product suite
Global investment firm Francisco Partners announced today that it has agreed to acquire Abbott’s STARLIMS informatics product suite for an undisclosed amount. Companies in the life sciences, pharma and biotech, chemical and refining, food and beverage, manufacturing, environmental, public health and forensics sectors have used the STARLIMS suite of products for more than 35 years. […]
Abbott wins new FDA approvals for stent family including nod for next-gen Xience Skypoint
Abbott (NYSE:ABT) announced today that the Xience stent family received FDA approval for one-month dual antiplatelet therapy (DAPT) labeling. The FDA’s approval for one-month (as short as 28 days) DAPT labeling applies to high bleeding risk (HBR) patients in the U.S., according to a news release. The company also recently received CE mark approval in […]
Abbott wins CE mark to sell Panbio COVID-19 antigen test over the counter
Abbott (NYSE:ABT) announced today that it received CE mark approval to market the Panbio COVID-19 test for over-the-counter use. European approval covers the direct-to-consumer sale of the Panbio COVID-19 antigen self-test for detecting the SARS-CoV-2 virus in adults and children both with or without symptoms. Abbott Park, Ill.-based Abbott’s Panbio antigen self-test uses a minimally […]
How Abbott engineered a catheter-delivered device for premature babies
Abbott’s experience designing its Piccolo device provides essential lessons for medical device creators who want to spark a pediatric medical device renaissance. The Amplatzer Piccolo occluder from Abbott is one of the first medical devices that health providers can implant in premature babies weighing as little as 2 lb to treat patent ductus arteriosus (PDA) […]
Abbott, Walgreens partner on boosting COVID-19 testing in Philadelphia
Abbott (NYSE:ABT) and Walgreens announced a pilot program designed to increase access to rapid COVID-19 testing in Philadelphia. Under the newly formed partnership, Pennsylvania Electronic Benefit Transfer (EBT) cardholders in Philadelphia will be able to receive Abbott’s BinaxNOW COVID-19 antigen self-tests weekly at no cost, according to a news release. Customers can visit any of […]
Abbott wins CE mark for Amplatzer steerable delivery sheath
Abbott (NYSE:ABT) announced today that it received CE mark and Health Canada approval for its Amplatzer steerable delivery sheath. The company touts the Amplatzer sheath as the first steerable delivery sheath to be developed specifically for minimally invasive left atrial appendage (LAA) occlusion (or closure) procedures for patients diagnosed with atrial fibrillation who are at […]
