What happened
Abbott Laboratories (ABT -0.65%) ended up outpacing the broader stock market on Thursday, with its share price rising by more than 2% against the 0.7% bump of the S&P 500 index. Investors were clearly happy with the latest product news from the company.
So what
Abbott reported some highly encouraging data about its Amplatzer Piccolo Occluder, a device that treats a common congenital heart defect in infants called patent ductus arteriosus (PDA).
According to the big healthcare company, the three years of data it has compiled on the device indicate that it produced a survival rate of nearly 96%, with zero procedure-related deaths. The implant success rate was similar, and the device closed the PDA in nearly every patient.
A PDA is an opening between a pair of blood vessels in the heart that fails to close; such closing is standard just after birth. If untreated, the PDA can channel additional blood to the lungs, producing difficulty with breathing.
Abbott's Amplatzer Piccolo Occluder is a wire mesh device inserted through an incision in the leg, then guided through blood vessels until it reaches the PDA site in the heart. It thus closes the PDA in a minimally invasive procedure. According to Abbott, this makes it preferable to the traditional means of treatment for the affliction -- placing the infant on respiratory support, or having the patient undergo risky surgery.
The device was approved by the Food and Drug Administration in 2019.
Now what
In its latest update on the product, Abbott did not provide any estimates for the level of sales it could reach. Nevertheless, it's undoubtedly an advancement in the treatment of an awful disorder afflicting the youngest patients, and as such it's a lock to be a popular solution.
