OUS Approvals Analysis: Medtronic, Abbott, Abionic Lead 2017 Upswing
The 20 non-US medical device approvals in January, including eight in in vitro diagnostics, four in orthopedics, and three in cardiovascular devices. Big medtech players Medtronic and Abbott, accompanied by much smaller Swiss IVD firm Abionic, led the charge and bagged more OUS approvals than most.
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The medtech giant announced 6% revenue growth, led by the cardiac and vascular and diabetes groups, both of which are enjoying strong market demand for new products. Medtronic expects to continue growing revenues by about five percent annually to maintain double-digit earnings growth.
Abbott Laboratories' diagnostic business is rolling out its new line of Alinity systems across its core lab, point-of-care, and molecular markets. Executive VP Brian Blaser says the systems are the realization of an ongoing customer-centric shift by the business, and the firm highlights a turnaround for a diagnostics unit that, only a decade ago, Abbott was trying to wash its hands of.
Swiss start-up Abionic has CE marked rapid tests for sepsis and iron deficiency, designed to run on its diagnostics platform abioSCOPE. The new sepsis test is based on a new biomarker PSP which has shown to be superior to current tests in detecting this life threatening condition early.