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ABBOTT LABORATORIES

(ABT)
  Report
Delayed Nyse  -  04:03 2022-12-02 pm EST
108.09 USD   +0.15%
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Late-Breaking Data Show Breadth of Abbott's Minimally Invasive Structural Heart Technologies

09/17/2022 | 02:45pm EST

Abbott announced data from five late-breaking presentations showing the benefits of its minimally invasive devices in treating people with a range of structural heart diseases. Data include findings that reinforce the value of MitraClip™, the world's first and leading transcatheter edge-to-edge repair (TEER) device, to treat leaky valves in people with mitral regurgitation (MR). The new data around Abbott's structural heart therapies were presented at the 34th Transcatheter Cardiovascular Therapeutics (TCT) annual scientific symposium of the Cardiovascular Research Foundation in Boston (September 16-19, 2022).

Results were also presented on TriClip™, the first therapy designed specifically for tricuspid heart valve repair; the Amplatzer™ Amulet™ Left Atrial Appendage Occluder, a minimally invasive option offering the most complete closure of the left atrial appendage (LAA) to reduce risk of stroke; and Portico™, a self-expanding transcatheter aortic valve implantation (TAVI) system. Structural heart diseases such as valve disease or openings in the heart that require closure can impair how the heart moves blood through the body. New minimally invasive technology has changed how physicians approach patient care and limits the need for more complex or risky surgery.

Data presented from the prospective, multi-center, global real-world EXPAND G4 study support the safety and effectiveness of the MitraClip G4 system for treating MR. The study represents the largest report of 30-day core lab-assessed outcomes, which included more than 1,000 patients. The data confirm that MitraClip offers high success rates in terms of MR reduction, improvements in quality of life and low adverse event rates. Key findings through 30 days include: Significant MR reduction to mild or less (= grade 1+ on a four-point scale) is achieved in 91% of patients, with lowest reported adverse event rates to date (1.3% all-cause mortality at 30 days); Clinical improvements including 83% of patients achieving New York Heart Association (NYHA) Functional Class I/II (a classification of functional limitations resulting from cardiac disease, with Class I/II meaning slight or no limitation of physical activity), an improvement of 52% from baseline of 31%; and an 18-point improvement in the Kansas City Cardiomyopathy Questionnaire (KCCQ) score (a self-assessment of social abilities, symptoms and quality of life), a 35% improvement from baseline score; Multiple clip sizes enable tailoring the therapy to patients' mitral valve anatomy and expand the spectrum of TEER-suitable patients.

The MitraClip system has been commercially available in the U.S. since 2013 and in Europe since 2008. With more than 150,000 patients treated worldwide, MitraClip is approved in more than 75 countries, spanning regions in Asia, Africa, Europe, the Americas and Australia. TRILUMINATE Pivotal is the first randomized, controlled clinical trial evaluating the safety and effectiveness of TEER with TriClip in 700 patients with severe TR in the U.S., Canada and Europe.

The data from the roll-in cohort through 30 days show: High implant success rate (99%); At least a one-grade TR reduction in 91% of patients, with moderate or less residual TR achieved in 74%; Patients achieving around a 17-point improvement in the KCCQ score, a 30% improvement from baseline score, which demonstrates a substantial improvement in their quality of life. The Amplatzer Amulet LAA Occluder with dual-seal technology (consisting of a lobe or piece to fill the cavity of the LAA and a disc to close off the opening into the LAA) is the first and only minimally invasive treatment option to offer immediate and complete dual-sealing closure of the LAA, reducing the risk of stroke and eliminating the need for blood-thinning medication. The prospective, international, multi-center Amulet IDE trial is the largest randomized LAA occlusion study to date consisting of more than 1,800 patients, and three-year outcomes demonstrate the safety and effectiveness of Amulet, with data showing: Device-related factors (device-related thrombosis or peri-device leak) more frequently preceded strokes in patients with Boston Scientific's Watchman‡ than those with Amulet; Both cardiovascular and all-cause death trended higher in the Watchman device than the Amulet device.

Data were also presented from the PREDICT-LAA prospective, multi-center, randomized controlled trial that studied if the use of cardiac computed tomography-based computational models (high-resolution scans of patients' hearts generated by FEops HEARTguide‡) help in the planning of Amplatzer Amulet procedures. Key findings at three months include: Improved procedural efficiency and safety outcomes with the Amplatzer Amulet LAA Occluder were achieved when planned with HEARTguide.


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Financials (USD)
Sales 2022 43 171 M - -
Net income 2022 6 831 M - -
Net Debt 2022 4 483 M - -
P/E ratio 2022 27,7x
Yield 2022 1,73%
Capitalization 188 B 188 B -
EV / Sales 2022 4,47x
EV / Sales 2023 4,78x
Nbr of Employees 113 000
Free-Float 87,2%
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Number of Analysts 25
Last Close Price 108,09 $
Average target price 116,15 $
Spread / Average Target 7,45%
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Managers and Directors
Robert B. Ford Chairman, President, Chief Executive Officer & COO
Robert Emmett Funck Chief Financial Officer & Executive VP-Finance
Sabina Ewing Chief Investment Officer, VP-Business & Technology
Glenn Fletcher Tilton Independent Director
William A. Osborn Lead Independent Director
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