Abbott Reports Stent Test Success

Abbott(ABT Quote) has reported positive results from a clinical trial of its Xience drug-coated stent, clearing an important hurdle on the path to Food and Drug Administration approval.

The company said six-month results from the study's first 30 patients revealed no stent thrombosis, or reclotting of the blood, and a low rate of major cardiac events, such as a heart attack.

The performance actually was superior to that of rival Boston Scientific’s(BSX Quote) best-selling Taxus stent, according to weekend media reports.

That’s good news for Abbott, which needed to show only that Xience was equal in performance to Taxus in order to call the study a success.

Abbott plans to file for FDA approval in the second quarter of this year and expects the stent to be available in the U.S. during the first half of next year, according to Reuters. Xience is already available in Europe.

Abbott announced the results Saturday at the annual American College of Cardiology scientific meeting in New Orleans.

The company’s shares lost 64 cents, or 1.2%, Friday to finish at $53.86.