Tuesday May 13, 03:06 PM
Abbott Labs shares rally on Xience V trial results; Boston Scientific slips
NEW YORK (Thomson Financial) - Shares of Abbott Laboratories (NYSE: ABT - news) rallied to a 5-week high Tuesday after the company said long-term
trial data indicated that its Xience V drug-eluting stent outperformed Boston Scientific (NYSE: BSX - news) 's Taxus system in reducing adverse cardiac events at 2 years.
Abbott's stock ran up 2.9% to $54.32. The intraday high of $55 was the highest price seen since April 7.
Abbott said in the Spirit III trial of 1,002 patients, Xience V Everolimus Eluting Coronary Stent System demonstrated a 45% reduction in risk of major adverse cardiac events (MACE) and a 32% reduction in risk of target vessel failure at 2 years as compared with Taxus paclitaxel-eluting coronary stent system.
Gregg Stone, the principal investigator of the Spirit III trial, said that with regard to MACE and target vessel failure, Xience V showed an even greater improvement in patient outcomes than Taxus at 2 years than at 1 year, with lower rates of heart attacks and lower rates of re-intervention of the target lesion.
Boston Scientific shares fell 1.7% to $13.18.
Tomi Kilgore
tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
Send Article by Email
