Bad News For Boston Scientific (BSX) As Abbott (ABT) Moves Closer To Stent Approval

Investing

Published: November 29, 2007 6:47 pm

Abbot Labs (ABT) is trying to get into the stent business. The market has been dominated by Boston Scientific (BSX) and Johnson & Johnson (JNJ). Stents are small mess implants which are designed to keep arteries open. The stent business boomed until, about a year ago, studies started to show that they could cause clotting problems. Stent sales have been falling ever since.

Now the Circulatory System Devices Advisory Panel to the FDA has recommended the approval of the Abbott Xience V, a stent which the company says is superior to the BSX product.

Whether the Abbott product performs substantially better than its competition is probably a matter for debate. The fact that there is one more well-heeled competitor in a shrinking market is not.

Douglas A. McIntyre

The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%¹ today. Checking accounts are even worse.

But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

¹https://www.fdic.gov/national-rates-and-rate-caps