Abbott Laboratories (NYSE:ABT) upped its full-year earnings forecast and saw shares stay stable after releasing 1st quarter 2016 earnings that just slipped past the Street’s estimates Abbott reported profits of $316 million, or 4¢ per share, on sales of $4.9 billion for the 3 months ended March 31, 2016. That amounts to a significant 86.2% […]
Abbott
Report: Sen. Durbin blasts Abbott over layoffs, separation agreement
Senator Dick Durbin (Ill.-D) is laying into Abbott (NYSE:ABT) after the company announced it’s laying off approximately 150 workers and sending their jobs overseas, according to The Chicago Tribune. The Illinois senator said he sent a letter last Thursday to Abbott CEO Miles White over the lost jobs, which the paper says are being outsourced to […]
Abbott prevails in 10-year-old stent lawsuit
A 10-year-old whistleblower lawsuit filed by a former Abbott (NYSE:ABT) sales rep, over the alleged off-label marketing of biliary stents, ended yesterday when a Dallas jury found for Abbott. Plaintiff Kevin Colquitt, a former rep for Abbott’s Guidant division, sued Abbott, Johnson & Johnson (NYSE:JNJ) and Boston Scientific (NYSE:BSX) in 2006, claiming that they marketed the use of biliary stents to treat peripheral […]
Medtronic’s Resolute Integrity tops Abbott’s Xience | ACC 2016 roundup
Medtronic’s Resolute Integrity stent tops Abbott’s Xience in Propel all-comers study Results from the Propel all-comers trial comparing Medtronic‘s (NYSE:MDT) Resolute Integrity drug-eluting stent showed it to be superior to the Xience stent made by rival Abbott (NYSE:ABT). The 1-year study followed 800 patients from the Propel trial who were treated with the Resolute Integrity device, […]
Stakeholders question FDA’s plan to release early warning on medical devices
Industry groups are responding to the FDA’s proposal to publicly release emerging safety signals before substantiation after the agency released draft guidance explaining its plans to track and release early medical device safety signals back in January. The agency said it plans to release data related to medical devices used in clinical practices that the FDA […]
Boston Scientific’s Synergy stent at 2 years | ACC 2016 roundup
Evolve II: 2-year data for Boston Scientific’s Synergy stent Boston Scientific‘s (NYSE:BSX) Synergy stent showed non-inferiority to its Promus Element Plus device after 12 months, according to data from the Evolve II trial presented yesterday at the annual conference of the American College of Cardiology. The Synergy stent’s bioresorbable polymer coating is designed to dissolve completely […]
Ex-AMO CEO Mazzo wants stay in insider trading case pending Supreme Court decision
James Mazzo, the former Advanced Medical Optics CEO who was indicted 2 years ago, wants a federal judge to agree to a stay pending a U.S. Supreme Court decision this fall over issues he claims could affect the insider trading charges alleged in his case. Mazzo was indicted in September 2014, stemming from Abbott‘s (NYSE:ABT) $2.8 billion […]
Trial kicks off in 10-year-old Abbott stent case
A 10-year-old whistleblower lawsuit filed by a former Abbott (NYSE:ABT) sales rep, over the alleged off-label marketing of biliary stents, finally went to trial in Dallas yesterday. Plaintiff Kevin Colquitt, a former rep for Abbott’s Guidant division, sued Abbott, Johnson & Johnson (NYSE:JNJ) and Boston Scientific (NYSE:BSX) in 2006, claiming that they marketed the use of biliary stents to treat peripheral artery disease. (The magistrate overseeing […]
Appeals court upholds Abbott’s win in ex-employee’s retaliation suit
A federal appeals court yesterday upheld a lower court’s ruling on the validity of a hand-written agreement between a former employee who brought discrimination and retaliation charges against Abbott (NYSE:ABT). Martina Beverly sued Abbott in April 2012, alleging that she was fired in retaliation for reporting her managers for allegedly harassing her and discriminating against […]
UPDATE: FDA: Abbott’s Mitraclip safety notice is Class I
Updated with information from an Abbott spokesperson. The FDA today issued a Class I recall label for the safety notice Abbott (NYSE:ABT) issued for its MitraClip device over issues in which the clip delivery system could not be detached from the clip due to a malfunction. Class I recall designations, the agency’s most serious classification of recall, […]
UPDATE: FDA panel OKs Abbott’s Absorb stent
UPDATED March 16 with comments from panel members. An FDA advisory panel recommended approval for the Absorb bioresorbable stent made by Abbott (NYSE:ABT). The Circulatory Devices panel voted 9-1 on safety, 10-0 on efficacy and 9-0, with one abstention, on the risk-benefit profile for the Absorb device, a coronary scaffold that’s designed to elute the drug everolimus […]