Abbott gets FDA nod to begin IVL trial after rivals buy up competition [Yahoo! Finance]
Boston Scientific Corporation (BSX)
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Source: Yahoo! Finance
Abbott said Monday it has received approval to start a U.S. clinical trial of a treatment for severe calcification in coronary arteries. The intravascular lithotripsy system uses sound pressure waves to break up calcium deposits that are blocking blood flow. Abbott said the device is designed to address the challenges of currently available IVL systems. The IVL market has seen a recent rush of M&A activity. Johnson & Johnson acquired Shockwave Medical last year for $13.1 billion, and Boston Scientific agreed in January to buy Bolt Medical for up to $664 million to enter the space. Abbott acquired Cardiovascular Systems, which had been developing an IVL system , for $890 million in 2023. On an earnings call shortly after closing the deal , Abbott CEO Robert Ford said the IVL program was high on his priority list as the integration team considered which projects would benefit from additional resources. Ford discussed the program again in April 2024, saying he was “excited about
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- Boston Scientific (NYSE:BSX) had its price target raised by analysts at Royal Bank Of Canada from $125.00 to $130.00. They now have an "outperform" rating on the stock.MarketBeat
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