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MarketScreener Homepage  >  Equities  >  Nyse  >  Abbott Laboratories    ABT

ABBOTT LABORATORIES

(ABT)
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Abbott Laboratories : ANNOUNCES THE U.S. LAUNCH OF THE IONICRF GENERATOR FOR USE IN PATIENTS LIVING WITH CHRONIC PAIN

11/11/2020 | 08:41am EST

ABBOTT PARK - Abbott (NYSE: ABT) today announced the launch of the IonicRF Generator a new device recently cleared by the U.S. Food and Drug Administration to deliver a non-surgical, minimally invasive treatment for the management of pain in the nervous system.

The IonicRF Generator is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain.

The new device is the first Abbott-developed radiofrequency ablation device and is currently approved in the United States and Europe.

'Every patient is different and the source of their pain is unique, making it extremely important to have multiple options available, so treatment can be tailored to individual circumstances,' said Jason E. Pope, M.D., Evolve Restorative Center, Santa Rosa, Calif. 'Abbott's IonicRF is an advanced device platform that targets specific nerves to block pain signals from reaching the brain. One of the most promising aspects of the therapy is its effectiveness in targeting pain in several discrete areas of the body.'

Radiofrequency ablation uses an electric current to heat up a small area of nerve tissue to stop it from sending pain signals.1 Studies have shown that pain relief following a single radiofrequency ablation treatment can last from six to 12 months.2 Low back pain is among the most common medical complaints worldwide-and facet joint syndrome, often treated by radiofrequency ablation therapy, is estimated to account for 15% of these complaints.3 Radiofrequency ablation has been used to treat pain, such as low back pain and Sacroiliac joint (buttocks) pain, that failed to resolve with conservative treatments, such as physical therapy, injections or medication.

'Most people who are candidates for radiofrequency ablation have tried other therapies, such as medications and injections, with limited success. As a result, they are now seeking an alternative solution that does not require surgery or the use of opioid medication,' said Keith Boettiger, vice president, Neuromodulation, Abbott. 'We are proud to be able to provide the first Abbott-designed radiofrequency ablation device engineered to deliver safe and effective pain management. This is another example of our focus on widening the breadth of our neuromodulation portfolio and keeping patients central to everything we do at Abbott.'

About Abbott's Chronic Pain Portfolio

Chronic pain can negatively impact personal relationships, work productivity and a person's daily routine. Abbott is a global leader in the development of chronic pain therapy solutions, offering radiofrequency therapy and spinal cord stimulation therapy solutions, including radiofrequency ablation generators and accessories, BurstDR stimulation, and dorsal root ganglion stimulation in the portfolio of chronic pain treatments.

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Contact:

Brent Tippen

Tel: (512) 286-4217

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 33 853 M - -
Net income 2020 4 415 M - -
Net Debt 2020 11 794 M - -
P/E ratio 2020 45,4x
Yield 2020 1,29%
Capitalization 191 B 191 B -
EV / Sales 2020 5,98x
EV / Sales 2021 5,21x
Nbr of Employees 107 000
Free-Float 88,9%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 120,22 $
Last Close Price 111,30 $
Spread / Highest target 21,3%
Spread / Average Target 8,02%
Spread / Lowest Target -26,3%
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Managers and Directors
NameTitle
Robert B. Ford President, CEO, Chief Operating Officer & Director
Miles D. White Executive Chairman
Robert E. Funck Chief Financial Officer & Executive Vice President
Roxanne Schuh Austin Independent Director
Samuel C. Scott Independent Director
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