A GlaxoSmithKline (NYSE:GSK) cancer drug program will be developed with a new companion diagnostic from Abbott (NYSE:ABT) as GSK moves to broaden its reach in personalized medicine.Abbott recently announced it would split into two companies, one focused on drugs and another focused on medical devices and diagnostics. Under the pact with GSK, Abbott’s medical device [...]

Abbott (NYSE:ABT) enrolled its first patients in a Japanese trial of the Absorb bioresorbable vascular scaffold.The Absorb stent opens clogged blood vessels and provides support to restore blood flow, and dissolves within about two years.Since the stent dissolves rather than leaving behind a metal scaffold, the treated vessel may be able to regain [...]

Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) came out as the big players in the U.S. drug-eluting stent market, together staking claim to more than half of all DES revenues.In 2010, Boston Scientific reported $1.5 billion in DES sales and held a 33 percent market share in the U.S., led by its Taxus and [...]

There’s no pleasing some people. Abbott (NYSE:ABT) shares were down on Wall Street today, despite the health care products giant reporting strong second-quarter sales and earnings figures ’ including a nearly 100 percent top-line surge for its coronary stents business.The Abbott Park, Ill.-based conglomerate reported profits of $1.94 billion, or $1.23 per diluted share, on [...]

An unknown bandit made off with a trailer shipment of Abbot Laboratories’ (NYSE:ABT) blood glucose monitoring products, and the company is working with law enforcement officials to get it back.In the mean time, the company warned pharmacies and consumers against products with unusually low prices as an indication that they might be [...]

Abbott had solid earnings to report, but problems in the pharmaceuticals portion of its business are triggering job cuts. About 2 percent of the company’s global workforce will be let go. Its earnings–per-share expectations are also considered low.

Abbott Laboratories Inc. (NYSE:ABT) goes before a Food & Drug Administration panel today, seeking to expand the indication for its RX Acculink carotid artery stent.

Citing results from the Sort Out IV trial, a head-to-head comparison of the two drug-eluting stents, Cordis chief scientific officer Dr. Campbell Rogers said the study confirms “the excellent sustained clinical outcomes consistently seen over the last 10 years.” “The Sort Out consortium has used Cypher stent as the comparator in a number of studies and, to date, no newer stent has proven a benefit over Cypher stent in terms of safety or efficacy,” Rogers said in prepared remarks.

Abbott (NYSE:ABT) posted flat second-quarter earnings despite a nearly 18 percent increase to its top line.The Abbott Park, Ill.-based medical products conglomerate reported sales of $8.83 billion for the three months ended June 30, up 17.8 percent compared with $7.50 billion during the same period last year. But net earnings were flat [...]

Abbott Laboratories (NYSE:ABT) laid off 120 workers from its California stent-making operation.The Abbott Park, Ill.-based company laid off 101 workers from its Temecula and Murrieta vascular stent manufacturing facilities in the Golden State. The remaining 19 workers were let go from the company’s Santa Clara, Calif., location.Abbott spokesman Jonathon Hamilton wrote in an emailed statement [...]