Healthcare Industry News: Bioabsorbable Stent
News Release - September 12, 2006
Abbott Announces Continued Expansion of Vascular Operations in Ireland to Prepare for Drug Eluting Stent ManufacturingFuture Growth Drives Rapid Expansion in Clonmel and Galway; Company Opens New Clonmel Manufacturing Facility Today
ABBOTT PARK, Ill., Sept. 12 (HSMN NewsFeed) -- Abbott (NYSE: ABT ) announced today continued expansion of its Abbott Vascular sites in Ireland at a celebration for the opening of its new 180,000 square foot state-of-the-art manufacturing facility in Clonmel. The company also unveiled architectural drawings of an additional 70,000 square foot administration, warehouse and logistics facility to accommodate future growth in Clonmel. Minister for Enterprise, Trade and Employment Micheal Martin attended the celebration event.
"Expansion to accommodate new facilities and additional personnel is necessary as we develop and deliver the highest-quality lifesaving devices and treatments for vascular disease -- particularly in emerging therapies such as drug-eluting, carotid and Bioabsorbable Stents," said Pat Ryan, vice president, Manufacturing Operations, Cardiac Therapies, who spoke at an event at Abbott Vascular's operations in Clonmel today to celebrate expansion activities at that site. "We are pleased to continue our legacy of commitment to Ireland and to the Clonmel and Galway communities."
The Clonmel and Galway sites play an important role in Abbott Vascular's drug-eluting stent manufacturing operations. The company plans to initiate European launch of its first drug-eluting stent, the XIENCE(TM) V Everolimus Eluting Coronary Stent System, next month. XIENCE V received CE Mark approval earlier this year. Positive six-month results for the stent system were reported recently at the World Congress of Cardiology conference in Barcelona, Spain. Abbott is awaiting CE Mark approval for its ZoMaxx(TM) Drug-Eluting Coronary Stent System. Both the XIENCE V and ZoMaxx drug-eluting stents are investigational in the United States.
Abbott's Galway operation was recently granted planning permission to build a new 150,000 square foot facility which will include manufacturing areas, warehousing, laboratories, and a three-story office accommodation. Abbott's Galway site was recently recognized by the Irish Institute of Training and Development with a National Training and Development award in the area of "Outstanding Achievement" in recognition of the organisation's best practices in training and development of its employees.
On April 21, 2006, Abbott acquired Guidant Corporation's cardiac and vascular therapies businesses, creating Abbott Vascular, which is focused on developing advanced treatments for cardiovascular disease, the world's leading cause of death. Guidant initially announced its plans for expansion in Clonmel in June 2004.
Abbott, employing more than 3,300 in Ireland, established a sales operation there in 1946 and manufacturing operations in 1974. In addition to the Clonmel and Galway sites, the company has manufacturing operations in Sligo, Longford, Cavan, and Donegal, as well as a sales and marketing division in Dublin.
About Abbott Vascular
Abbott Vascular, a division of Abbott, is one of the world's leading vascular care businesses. Abbott Vascular is uniquely focused on advancing the treatment of vascular disease and improving patient care by combining the latest medical device innovations with world-class pharmaceuticals, investing in research and development and advancing medicine through training and education. Headquartered in Northern California, Abbott Vascular offers a comprehensive portfolio of vessel closure, endovascular and coronary products, which are recognized internationally for their safety, effectiveness and ease of use in treating patients with vascular disease. For more information, visit http://www.abbott.com .
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries. Abbott's news releases and other information are available on the company's Web site at http://www.abbott.com .
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