Dow Jones Newswires | A veteran Abbott Laboratories cholesterol drug and a new Abbott
heart-repair tool will take center stage at a major heart conference
this weekend, with data that could disturb the company’s perch in one
market but smooth its path to another.
The American College of Cardiology’s roster of top trials includes
Accord, a large government-funded study that tests adding Abbott’s drug
TriCor to a generic cholesterol drug, which some analysts think will
yield mixed results. Another trial, called Everest II, examines an
Abbott-made tool designed to repair faulty heart valves without major
surgery, which could open up a big market.
Both studies come Sunday at ACC, which takes place in Atlanta. Other key releases will examine a new Boston Scientific Corp. heart stent and a Medtronic Inc. tool designed to treat common heart-rhythm problem.
Abbbott’s decades-old TriCor, plus a newer version known as Trilipix, racked up combined sales of $1.3 billion last year. They are known as fenofibrate drugs, which are designed to improve levels of cholesterol and related substances in the blood.
In one part of Accord, TriCor was added to the generic cholesterol drug simvastatin to see if it reduced the risk of heart attacks and related events beyond what could be accomplished by simvastatin alone. This is an open question because past studies haven’t conclusively proven that TriCor’s benefit on cholesterol levels translates into fewer bad events.
Wall Street is girding for a miss, but with a modest impact on sales and prescription volumes. Morgan Stanley’s David Lewis noted that doctors seem aware study patients had a lower-than-usual level of one cholesterol measure, which could weigh on results. Meantime, Wells Fargo’s Larry Biegelsen thinks Abbott’s drugs could look better in certain patient subgroups.
The company has highlighted study issues that could weigh on results while saying it doesn’t expect fallout. “We don’t expect any significant impact from it,” John Thomas, vice president of investor relations, said on Abbott’s fourth-quarter call.
Researchers also will present results from another section of Accord that measured whether intensive lowering of blood pressure reduced risk of heart problems versus standard treatment in diabetics. This trial arm used various classes of hypertension drugs from multiple brand-name and generic manufacturers.
Everest II, meantime, examines about 280 patients treated with Abbott’s “MitraClip” device, on sale in Europe so far, which is designed to improve faulty mitral heart valves through a catheter rather than chest-opening surgery. A successful trial could pave Abbott’s path to the U.S. market in 2011.
This study could “steal the show,” JPMorgan analyst Michael Weinstein said, while opening what could be a more than $1 billion opportunity for Abbott.
The company acquired this technology by buying privately held Evalve Inc. in November. Fixing heart valves without major surgery is a big area of interest for device companies looking for new ways to grow. While Medtronic and Edwards Lifesciences Corp. have focused on replacing faulty aortic valves, Abbott chose not to chase those efforts, but to instead focus on leading the way in mitral repair.
