Yahoo Finance Abbott (ABT) Debuts Amplatzer Talisman System in Europe
Abbott Laboratories ABT recently launched its Amplatzer Talisman PFO Occlusion System in Europe. The Talisman device aims to treat patent foramen ovale (PFO) patients who have had a stroke and are at risk of having another.
According to guidelines from industry organizations and clinical trial data, the PFO closure has proven beneficial for patients experiencing a PFO-associated stroke. Per Abbott’s management, the company’s trusted PFO closure technology has been used to treat over 180,000 patients worldwide. The novel Talisman system simplified doctors’ procedures while allowing patients to return to living fuller, healthier lives more quickly.
The latest European launch of the Amplatzer Talisman PFO Occlusion System will likely fortify Abbott's structural heart business.
More About the Amplatzer Talisman System
The Amplatzer Talisman system builds upon the company's industry-leading Amplatzer PFO Occluder. The Talisman PFO occluders come pre-attached to the Amplatzer Trevisio delivery cable, which cuts down on preparation time ahead of the procedure and makes it easier to use. Previously, physicians had to attach the Amplatzer PFO Occluder to the delivery cable before performing the implant procedure.
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The Talisman system accommodates a broader range of patient anatomies. An updated 30mm occluder size has optimized the system’s fit in the heart. The device is also fully recapturable and repositionable, enabling doctors to adjust for accurate placement more easily.
Industry Prospects
Per a report published in PR Newswire, the patent foramen ovale closure devices market is expected to see a CAGR of 3.1% across the seven major markets during 2018-2026. Factors such as the launch of emerging medical devices and upcoming technologies, including a first-generation light-activated PFO implant, can be attributable to market growth.
Given the market prospects, Abbott’s latest launch in Europe seems well-timed.
Other Notable Developments
In August 2022, Abbott received FDA approval for its novel Proclaim Plus spinal cord stimulation system featuring FlexBurst360 therapy. The FlexBurst360 therapy is the next generation of Abbott's proprietary BurstDR stimulation, which offers pain coverage across six areas of the trunk and/or limbs. The FlexBurst360 therapy on the Proclaim Plus system enables physicians to detect the lowest effective dose of stimulation for each patient and alter it in response to changing pain requirements.
In July 2022, the company gained FDA’s Breakthrough Device Designation to investigate the use of its deep brain stimulation (DBS) system in treatment-resistant depression (TRD), a form of major depressive disorder. Abbott's DBS System is a personalized, adjustable therapy that involves inserting small wires or leads into specific regions of the brain. The receipt of Breakthrough Device Designation will make the DBS System available as a novel treatment option for TRD soon.
Share Price Performance
The stock has outperformed its industry in the past year. It has declined 18% against the industry’s 50.1% surge.
Zacks Rank and Key Picks
Currently, Abbott carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. AMN, ShockWave Medical, Inc. SWAV and McKesson Corporation MCK.
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has lost 8.4% against the industry’s 36.3% fall.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.1% for 2023. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has outperformed its industry in the past year. SWAV has gained 33.5% against the industry’s 31.4% fall over the past year.
McKesson has an estimated long-term growth rate of 9.9%. The company surpassed earnings estimates in the trailing three quarters and missed in one, delivering a surprise of 13%, on average. It currently carries a Zacks Rank #2 (Buy).
McKesson has outperformed its industry in the past year. MCK has gained 79.4% against the industry’s 13.4% fall.
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