Abbott (NYSE:ABT) plans to restrict the use of its Absorb bioresorbable stent in Europe after a clinical study found a higher risk of serious adverse events. In a March 31 letter to physicians (posted online April 5 by a prominent cardiologist from Atlanta), Abbott said it would restrict use of the Absorb and Absorb GT1 devices to […]
Abbott
ISHLT 2017: Less clotting, bleeding events for Abbott’s HeartMate 3
New 6-month data presented today on Abbott‘s (NYSE:ABT) HeartMate 3 left ventricular assist system indicated fewer adverse clotting and bleeding events than with its HearMate II. Data came from a 6-month analysis of its pivotal Momentum 3 trial, a randomized, non-blinded study which aimed to compare the new HeartMate 3 system to the previous-generation HeartMate II. Results […]
Defendants move for acquittal in Abbott-Advanced Medical Optics insider trading case
The defendants in an insider trading case yesterday asked a federal judge in California to acquit them of all charges, arguing that the government failed to show any evidence that they traded on inside dope about Abbott‘s (NYSE:ABT) $2.8 billion acquisition of Advanced Medical Optics in 2009. Federal prosecutors in 2014 accused ex-Advanced Medical Optics chief James Mazzo of tipping […]
Alere gains on judge’s dissent in different case
Shares in Alere (NYSE:ALR) closed up more than 3% last week as investors reportedly reacted to a Delaware state judge’s dissent in an unrelated case. Investors in the diagnostics giant, which is fighting an attempt by Abbott (NYSE:ABT) to spike their $6 billion merger, viewed a dissenting opinion in a case involving a different deal as a good sign. In that […]
Abbott divests 60% of its stake in Mylan
Abbott (NYSE:ABT) divested 60% of its remaining stake in Mylan (NSDQ:MYL) this week, according to regulatory filings, disposing of 44 million shares at $41.60 apiece. The trade was valued at $1.7 billion. In 2014, Mylan bought Abbott’s generics business outside the U.S. in a deal that rang in at nearly $5.3 billion. The deal allowed Canonsburg, Penn.-based Mylan […]
Ocular Therapeutix CFO Smith departs | Personnel Moves – March 21, 2017
Ocular Therapeutix (NSDQ:OCUL) said yesterday that its chief financial officer, Bradford Smith, will resign from the company at the end of this month. James Fortune, Ocular’s chief operating officer, will assume the roles of principal financial officer and principal accounting officer, according to a regulatory filing. Get the full story at our sister site, Drug Delivery […]
ACC 2017 Roundup: Abbott touts reduced HF rehospitalizations in MitraClip study
The team at MassDevice.com and Drug Delivery Business News will be updating this post periodically as news comes out of ACC 2017, the annual American College of Cardiology meeting in Washington March 17-19. Abbott touts reduced HF rehospitalizations in MitraClip study Abbott (NYSE:ABT) released 1-year outcomes from the largest study to-date of real-world experiences […]
ACC 2017: FDA warns on Abbott’s Absorb
The Absorb bioresorbable stent made by Abbott (NYSE:ABT) confers a higher risk of serious adverse events at 2 years compared with the company’s Xience drug-eluting stent, according to new data from a study that prompted the FDA to warn physicians on the risk. But the picture is clouded by new guidelines indicating the proper blood vessel […]
Pharma stocks fall on Trump’s proposal to cut NIH budget
The Trump budget plan to slash more than 18% from the budget for the National Institutes of Health sent pharmaceutical stocks down today on Wall Street as investors reacted to the proposal. The budget proposal, released today, would cut the NIH budget by $5.8 billion, to $25.9 billion – an 18.3% cut. The proposal would also introduce […]
Alere misses extended 10-K filing date
UPDATE: Updated to include new information on Alere’s suit against CMS Alere (NYSE:ALR) said today it will be unable to file its annual 10-K report by its extended March 16 deadline due to an investigation of inappropriate conduct at its South Korean Standard Diagnostics subsidiary. The Waltham, Mass.-based company filed for the extension on March 1 […]
Abbott wins FDA nod for FlexAbility sensor-enabled ablation cath
Abbott (NYSE:ABT) said today it won FDA approval for its sensor-enabled FlexAbility ablation catheter designed for cardiac ablation procedures to treat atrial flutter. The sensor-enabled FlexAbility ablation catheter is the Abbott Park, Ill.-based company’s 1st designed to collect electrical current resistance and magnetic data to produce accurate mapping and assist in treating sites that trigger […]