Patients using Abbott's device, the Xience drug-eluting stent, had far fewer heart attacks and heart-related deaths after one year, the researchers reported in the Journal of the American Medical Association.
The device has already won the backing of a U.S. advisory panel to the Food and Drug Administration and is expected to win U.S. marketing approval in June, joining Medtronic Inc's (MDT.N: Quote, Profile, Research) new drug-eluting stent, Endeavor, which won U.S. approval in February.
It's really an unknown whether it is priced in or not. But, the fact is that ABT is producing good top and bottom line increases. I still think that if ABT can continue its recent trend, its price will most certainly move higher, possibly over 60 within the next 12 months.