Abbott Laboratories' drug-coated Xience stent prevented heart attacks, kept arteries open and avoided the need for repeat surgeries almost twice as well as Boston Scientific's rival device, according to a study.
The largest-ever trial on Abbott's experimental stent, released Tuesday at the EuroPCR scientific conference in Barcelona, Spain, found 45 percent fewer deaths, heart attacks and follow-up procedures after two years among 1,002 patients who received Xience, compared to those who got Boston Scientific's Taxus, the world's best-selling stent.
The study is key to Abbott's U.S. application to sell Xience and to expand its share of the $5 billion global market for drug-coated stents, the mesh tubes that prop open arteries after they're cleared of clogs, said Kelly Morrison, a company spokeswoman. The results were good enough that an Abbott executive said the company would charge a "premium" above competitors' stent prices.
Shares of the Abbott Park, Ill.-based company rose $1.62, or 3.1 percent, to close $54.40.
Shares of Natick, Mass.-based Boston Scientific, which has major operations in Arden Hills and Maple Grove, fell 40 cents, or 3 percent, to close at $13.01 Tuesday. The company has gained 12 percent this year.
In other news from the conference, Fridley-based Medtronic's drug-coated Endeavor stent performed better than a bare-metal version in a study that further bolsters the safety record of the newest generation of heart devices.
The study of 1,197 people found 14 percent of patients implanted with Endeavor suffered heart attacks, died of heart-related ailments or needed repeat procedures after four years, according to data presented Tuesday. That compared with 23 percent among those who used the company's uncoated stent, named Driver.
The study adds to research showing the latest drug-coated stents more effective than their bare-metal predecessors and challenging 2006 studies suggesting the newer stents might cause more clotting. Endeavor eventually will compete with Abbott Laboratories' Xience stent, Johnson & Johnson's Cypher and Boston Scientific's Taxus for the $5 billion world stent market.
Medtronic fell 73 cents, or 1.5 percent, to close at $47.42.
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