Abbott to Acquire Stent Business for $235 Million

In a move to expand its presence in the market for drug-coated stents, Abbott Laboratories (Abbott Park, IL, USA) has agreed to acquire the cardiovascular stent business of Biocompatibles International plc (Farnham, UK) for about US$234.5 million in cash.

In 1999, the two companies signed a multiyear agreement for Abbott to exclusively distribute Biocompatibles' Biodivysio coated stents in the United States. Now, the acquisition enhances Abbott's portfolio of polymer-coated stents and increases its marketing presence in Europe. Abbott will also acquire the rights to Biocompatibles' proprietary phosphorycholine (PC) coating technology for use on certain devices in the fields of interventional cardiology, radiology, and neuroradiology. The technology is a polymer copy of the outside surface of a red blood cell, which mimics the structure of the natural cell membrane. The PC coating is designed to reduce the body's response to implanted devices.

Abbott's lead drug-coated stent compound is an internally developed rapamycin analogue, a proprietary antiproliferative agent that has shown promise in preclinical studies. Through the acquisition, Abbott assumes worldwide commercial rights for all potential drug-coated products in Biocompatibles' pipeline.

"This strategic acquisition strengthens Abbott's platform in the vascular business by enhancing our worldwide presence and augmenting our existing work to develop and commercialize innovative new products,” said Christopher B. Begley, senior vice president, hospital products, Abbott Laboratories.




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