Updated to include a statement from an Abbott spokesperson. Abbott‘s (NYSE:ABT) bioresorbable scaffold has been plagued with a myriad of troubling data, including a study that showed that the device is associated with an increase in thrombosis and target lesion failure. In April, Abbott restricted use of the Absorb devices to clinical registry studies. In response […]
Abbott Laboratories
Sanofi promotes Sibold to exec VP of Sanofi Genzyme | Personnel Moves – April 13, 2017
Sanofi (NYSE:SNY) said at the start of April that it promoted Bill Sibold to exec VP of Sanofi Genzyme, effective July 1, 2017. Sibold succeeds Dr. David Meeker, who is slated to leave the company at the end of June. Sibold is the head of Sanofi Genzyme’s global multiple sclerosis, oncology and immunology organization. He […]
Abbott to restrict Absorb bioresorbable stent in Europe
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 […]
Reva Medical wins CE Mark for Fantom bioresorbable scaffold
Reva Medical (ASX:RVA) said yesterday that it won CE Mark approval in the European Union for its Fantom sirolimus-eluting bioresorbable coronary scaffold. The Fantom scaffold is the San Diego, Calif.-based company’s 1st commercial product. Reva said it plans to begin selling the product in Europe this quarter. “CE Mark approval for Fantom is a major milestone for […]
The top medtech stories of early 2017
The new Trump administration and Republican Congress – and all the accompanying change and uncertainty – is the major story for the medical device industry. But there are many other medtech stories worth noting from the first quarter of 2017. There was an FDA warning over Abbott’s Absorb bioresorbable stent, a continued spate of M&A deals, diabetes […]
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 […]
Sanofi gains on Q4 results; a look at some of the top drug-delivery earners in 2016
Shares in Sanofi (NYSE:SNY) have gained 11% to $44.58 apiece since the company released its 4th-quarter and full year 2016 financial results in February. The French company posted profits of $731.5 million on sales of $8.21 billion for the 3 months ended Dec. 31, for bottom-line growth of 136.5% on sales growth of 3.3% compared with […]
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 […]
Abbott touts association between monitoring and improved glucose control
Abbott (NYSE:ABT) touted results today from real-world use data for its FreeStyle Libre blood glucose monitoring system. The data showed that people using its FreeStyle Libre system to monitor their glucose levels spend less time in hypoglycemia or hyperglycemia and have improved average glucose levels. More than 50,000 diabetes patients using the FreeStyle Libre system checked […]
Abbott touts study showing SCS helps curb opioid use in chronic pain patients
Abbott (NYSE:ABT) touted data from a 5,400 patient study evaluating daily opioid use following spinal cord stimulation therapy in patients with chronic pain. The researchers found that average daily opioid use declined or remained steady for patients with a spinal cord stimulation system compared to patient use of opioids prior to the implant. Patients who had the […]
