The market cap of Dow component Johnson & Johnson is a whopping $200 billion. Abbott Labs is valued at less than half that.
But think of ABT as kind of a mini-me JNJ because like Johnson & Johnson, ABT has cobbled together a similar three-siloed business of drugs, devices and consumer products.
And today the Chicagoland company announced it's beefing up its drug portfolioby striking a deal with AstraZenecato co-promote the cholesterol fighter Crestor in the U.S. Abbott also sells Niaspan for the heart.
According to analysts who are closely monitoring daily prescription trends of statins or cholesterol medicines in the wake of the controversial studies of Vytorin and Zetia from Merckand Schering-Plough this year, Crestor has picked up about one percentage point of market share since the first and most significant V-Z clinical trial results came out.
But like JNJ, ABT is now a player in the $5 billion-a-year stent business. Last month, it won approval of a new drug-coated stent that many analysts believe will quickly become the artery-opening tube of choice. Based on a previous business deal, Boston Scientific is selling the same new stent, but under a different brand name.Page 1 of 3 | Next Page