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Bad News For Boston Scientific (BSX) As Abbott (ABT) Moves Closer To Stent Approval
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Abbot Labs (ABT) is trying to get into the stent business. The market has been dominated by Boston Scientific (BSX) and Johnson & Johnson (JNJ). Stents are small mess implants which are designed to keep arteries open. The stent business boomed until, about a year ago, studies started to show that they could cause clotting problems. Stent sales have been falling ever since.
Now the Circulatory System Devices Advisory Panel to the FDA has recommended the approval of the Abbott Xience V, a stent which the company says is superior to the BSX product.
Whether the Abbott product performs substantially better than its competition is probably a matter for debate. The fact that there is one more well-heeled competitor in a shrinking market is not.
Douglas A. McIntyre
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