Medtronic, Abbott Swap to Stay In Drug Stent Race

Medtronic and Abbott Laboratories, both lagging in the race to develop drug-eluting stents, are teaming up to bolster their respective programs in that field. Medtronic lacks a viable anti-restenosis drug and a polymer coating, while Abbott doesn't have a delivery system. Yet, Medtronic has an over-the-wire delivery system and Abbott has a promising anti-proliferative agent in clinical trials. Together, the companies believe they can become viable players in what is sure to be a lucrative, albeit fiercely competitive market.