Abbott Makes Its Play In Stents

In building its interventional cardiology business, Abbott Laboratories has generally avoided going head-to-head with any of the major cardiovascular device players in traditional product markets such as coronary stents. But that is about to change. Its acquisition of Biocompatibles' stent business marks Abbott's entry into cardiology's major league as the company attempts to establish itself in what looks to be the next blockbuster cardiovascular device product market--drug-coated stents.

Ever since Abbott Laboratories Inc. broke into the interventional cardiology market with a splash in November 1999 with its acquisition of femoral artery closure company, Perclose Inc. , industry executives have been waiting for the company's next big cardiovascular deal. [See Deal] (See "Abbott: Cracking the Cardiology Cartel," IN VIVO, May 2001 [A#2001800111) Rumors abounded, with Boston Scientific Corp. the target most often mentioned. But rather than use its considerable resources to pursue a major acquisition that would provide a broad-based product line, Abbott's cardiology strategy has been to utilize a series of smaller deals to assemble a group of niche technologies, including embolic protection devices (MedNova Ltd. and Rubicon Medical Inc.) and a technology for crossing total occlusions (LuMend Inc. ). [See Deal], [See Deal], [See Deal] Also among these was a November 1999 licensing and distribution deal with Biocompatibles International PLC for coated stent technology. [See Deal]

Abbott has generally avoided going head-to-head with any of the major cardiovascular device players in traditional product markets such as...

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