grate with Abbott’s i1000SR immunoassay analyzer to form the
Architect ci4100, an automatic analyzer that conducts both immunoassay and chemistry tests on one platform. Both products,
Abbott officials said, enable the company to offer chemistry, immunoassay, and integrated diagnostic testing solutions to help
improve laboratories’performance and efficiency.
Abbott’s Vascular unit was one of only two areas to achieve
double-digit sales growth last year (the second was the com-pany’s“Other” unit). Vascular product sales generated $2.7 billion in 2009 (year ended Dec. 31), a 20 percent increase
compared with the $2.2 billion the franchise netted in sales the
previous year. Earnings more than doubled, going from $205
million in 2008 to $557 million last year. Diabetes products garnered $1.2 billion for the company in 2009, while medical optics
products generated $890 million.
The Vascular unit’s solid performance last year unquestionably was driven by the launch of several new products and the
worldwide rollout of Abbott’s next-generation drug-eluting
stent system. The company received CE Mark approval early last
summer for its Xience Prime stent, which improves upon the
Xience V system through improved deliverability and longer
lengths. The Xience Prime uses cobalt chromium technology,
which enables surgeons to use thin struts to support the blood
vessel in which the stent is being placed. The Prime also has a
better visibility under X-rays than its predecessor.
By September of last year, Abbott had launched the Xience
Prime in Europe and certain countries throughout Latin America and Asia Pacific. Its cousin, the Xience V, continued to penetrate world markets, having been approved in both Canada
Some of the other new vascular products Abbott launched
last year included the FoxCross PTA catheter and the Hi-Torque
Besides the FoxCross catheter and the Ver-
sacore guidewire, Abbott also launched the
Emboshield NAV embolic protection system
for use in carotid stenting procedures. The Em-
boshield system gives patients with partially
blocked carotid arteries a less invasive alterna-
tive to surgery.
Abbott also expanded into the structural
heart market in 2009 with the acquisition of
Evalve Inc., a Menlo Park, Calif.-based firm
that develops devices for the minimally invasive repair of cardiac mitral valves. The agreement called for an initial payment of $320
million in cash plus an additional payment upon completion of
certain regulatory milestones, for a total of up to $410 million.
Executives said the merger would provide Abbott with leading
technology in the field of minimally invasive heart repair and
would further broaden the company’s medical devices portfolio.
Adding to the portfolio of minimally invasive mitral valve repair was the development last year of the MitraClip system, a
catheter-mounted device that acts like a clothespin to clip together the flaps of a leaky mitral valve. The MitraClip system is
available in Europe and currently is under review by the U.S.
Food and Drug Administration.
8. Boston Scientific
Ray Elliott, President and CEO
Jeffrey D. Capello, Exec. VP and CFO
Sam Leno, Exec. VP and COO
Joseph M. Fitzgerald, Sr. VP and President, Endovascular
William H. Kucheman, Sr. VP and President, Cardiology,
Rhythm & Vascular
J. Michael Onuscheck, Sr. VP and President, Neuromodulation
John B. Pedersen, Sr. VP and President, Urology & Women's
Michael P. Phalen, Sr. VP and President, Endoscopy
NO. OF EMPLOYEES:
GLOBAL HEADQUARTERS: Natick, Mass.
Never give up. It sounds like a trite mantra, but they seem to be words that Boston Scientific has lived by during the past few years. Some accused the company of biting off
more than it could chew after it acquired Guidant Corp. following
a bidding war with Johnson & Johnson in
2006. Subsequently, all the financial burdens of the purchase followed, along with
some quality and manufacturing issues,
patent lawsuits, government kickback investigations and recalls (though much of
the company’s recall angst has happened
The goal here isn’t to highlight the
negative—to the contrary. The Natick,
Mass.-based device giant continues to
For fiscal 2009, the company’s sales
were up and its losses went down. Still no
profit, but not nearly as deep in the red.
Boston Scientific posted sales of $8.19 bil-
More than 3 million
die each year as a
result of sudden