A Troubling Lab Report 6-4-07
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Date updated:06-02-2007

FANS OF ABBOTT LABORATORIES ARE FOCUSED on the company's launch of a new drug-coated cardiac stent, which they believe could trump competitors' products and snare up to 40% of the $5 billion market. Expectations for the product have helped fuel a 50% increase in the past 18 months in shares of the Abbott Park, Ill.-based health-care concern, which closed Friday at 56.30.

But investors may be overlooking the fact that most of Abbott's profits come from its slower-growth, lower-multiple pharmaceutical division, not jazzy technologies. And some prominent doctors have started questioning the safety and efficacy of one of Abbott's best-selling drugs, TriCor, which helps patients lower triglycerides, a type of non-cholesterol fat.

symbol name last price % change open
  • +
  • GSK
    Glaxosmithkline P
  • $41.37
  • +2.10%
  • $41.14

Concerns about fenofibrate center on creatinine, a substance produced by the muscles and eliminated by the kidneys. A rise in creatinine typically indicates some sort of kidney malfunction. Fenofibrates and other fibrate drugs have been known to result in elevated creatinine levels. A study published in March in the Journal of the American Medical Association by Dr. Steven Nissen, chairman of the department of cardiovascular medicine at the Cleveland Clinic, showed that 19 patients, or 38% in a control group that took fenofibrate, saw their creatinine levels rise above what is considered the upper limits of normal

People owning GSK also tend to own: ABTDGXEPDFMDJNJJOSBJTX

TheStreet.com Rating: B- What is this?

  • +
  • MRK
    Merck Co Inc
  • $33.43
  • +2.58%
  • $32.88

Nissen also raised concerns about Vioxx as well

People owning MRK also tend to own: CCATDEFNMFREGEKO

TheStreet.com Rating: B- What is this?

  • +
  • ABI
    Safety First Trus
  • $11.02
  • +1.57%
  • $11.00

Barrons feels that the stock is pricey at 56- especially as questions about TriCor seem destined to grow

People owning ABI also tend to own: FXEFACTADPCXINTCLUKBAC

TheStreet.com Rating: A+ What is this?

  • +
  • AMGN
    Amgen Inc.
  • $54.91
  • +0.40%
  • $54.65

No Analysis added

People owning AMGN also tend to own: AAPLGESGPCECEMRVLOMRIANF

TheStreet.com Rating: B What is this?

  • +
  • DNA
    N/a
  • $80.43
  • 0.00
  • $80.43

No Analysis added

People owning DNA also tend to own: AAPLDSCMGOOGXOMDWELXGLW

TheStreet.com Rating: B What is this?

  • +
  • ABT
    Abbott Laboratori
  • $52.35
  • +1.59%
  • $51.78

No Analysis added

People owning ABT also tend to own: AGNBMYBRLCEPHENDPFRXHSP

TheStreet.com Rating: A- What is this?

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