Abbott Sued Over Discontinued ZoMaxx Stent

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Abbott Sued Over Discontinued ZoMaxx Stent

December 20th, 2007 amy

Per a recent Reuters article, an investor has filed a lawsuit against Abbott Laboratory seeking more than $70 million in damages. The investor, Birmingham Associates, alleges Abbott breached an obligation by discontinuing its ZoMaxx stent. Abbott stopped development of the ZoMaxx stent in October 2006 and said it would focus on developing another drug-coated stent called Xience, which it acquired from Guidant in April 2006.

The drug coated stent market has taken a dip since 2006, after studies linked drug coated stents to increased risk for blood clotting compared to bare metal stents. The American Journal of Medicine published a study in December of 2006 which found blood clot development with drug coated stents four to five times more likely than with the metal stents. A 2007 study conducted by researchers at the Bichat-Claude Bernard Hospital in Paris, France, analyzed patients who had heart attacks as a result a blood clotting after heart procedures. Patients studied were five times more likely to die than those who received bare metal stents. As a result of these studies, many doctors have stopped using drug coated stents as a precaution.

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