Robert Steyer
Abbott Labs Spins a Positive Mix
10/13/04 - 09:59 AM EDT
One other prospect may capture some attention during Thursday's teleconference with analysts, even though it won't be available for several years. The product is ZoMaxx, a drug-coated arterial stent about which Abbott had said virtually nothing until last month when the company announced it was starting clinical trials overseas and in North America. Abbott isn't easing into these tests. It is conducting head-to-head research with ZoMaxx vs. Taxus, the drug-coated stent made by Boston ScientificBSX. The other drug-coated stent player is Johnson & Johnson, which makes the Cypher stent. Three other companies are in the fray -- GuidantGDT, MedtronicMDT and the privately held Conor Medsystems. "Certainly, it is tough to predict how Abbott will fare ultimately with the product," said the SG Cowen research report. But Cowen analysts say research presented at a conference last month should at least awaken Wall Street's interest.
The medical-device maker says its new drug-coated stent performed well in a comparative test.
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