Abbott Laboratories- The United States Food and Drug Administration (FDA) on Tuesday will review Abbott’s one-of-a-kind dissolving medical implant in order to weigh its potential risks to heart attack and blood clot patients.
Abbott is seeking approval from the FDA to sell its novel coronary stent called Absorb as an alternative to metal stents, which are currently used to treat narrowing arteries that often lead to heart attack or death.
Abbott Laboratories (NYSE:ABT) awaits an important appointment this Tuesday with the Food and Drug Administration advisory committee, on which the pharmaceutical company will try to convince the FDA to recommend the approval of the first ever disappearing medical implant for clinical use in the United States.
The first-of-a-kind heart implant was designed to clear fat-clogged arteries, and then to dissolve into the body. The implant called Absorb everolimus-eluting bioresorbable vascular scaffold, or simply BVS, and it is a substitute to the commonly used stents implants. The problem with stents is that after fat-clogged arteries have been cleaned there are chances of serious complications, including a potential development of blood clots, which could trigger heart attack. To avoid the risk of such complications several medical device makers have decided to invest in the development of dissolving stents. Abbott Laboratories could be the first to have such a device recommended by the FDA.
The FDA will raise several questions, including whether or not the Absorb implant actually reduces the rates of cardiovascular complications, which will be the primary point of the debate. Some FDA scientists noted that the rate of such complications was actually a little higher with the new dissolving stent, but no specific data was provided as of yet.
If the opinion of the panel will be positive it will bring Abbott Laboratories one step closer to having a new kind of heart implant on the market. The stock of Abbott is currently trading at about $10 dollars or 19% away from its 52 week high.
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