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Earnings Calls In Brief

This article was originally published in The Gray Sheet

Executive Summary

Abbott's Xience V stent marks steady share gains: Abbott's Xience V everolimus-eluting coronary stent is "on track to exit 2007 with overall market share in the mid- to high-20% range" outside the United States, the firm reports during its July 18 earnings call. In India, market share is over 30%. The device debuted internationally last October and Abbott continues to expect U.S. approval in the first half of 2008; the firm completed its PMA filing in late May. Abbott's drug-eluting stent franchise generated $60 million in sales in Q2. The latter figure is roughly equal to the first quarter level because a 40% sequential increase in Xience sales was offset by lower "third party-related DES revenues," the firm explains. Overall Abbott Vascular sales, including stents, were up 63% year-over-year to $423 million in Q2 - reflecting Abbott's acquisition of Xience developer Guidant Vascular in April 2006. Leading a 20% advance in Abbott's medical product sales for the quarter, the Vascular segment remains on target for 60% growth for the full year, Abbott notes...
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