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Abbott (ABT) to Offer New Treatment Option for Chronic Pain
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Abbott Laboratories (ABT - Free Report) recently received FDA approval for its novel Proclaim Plus spinal cord stimulation (SCS) system featuring FlexBurst360 therapy. The FlexBurst360 therapy is the next generation of Abbott's proprietary BurstDR stimulation, which offers pain coverage across six areas of the trunk and/or limbs. It facilitates programming that can be changed according to a person's evolving therapeutic needs.
The Proclaim Plus SCS system has been designed to fit within an individual’s life. It is recharge-free and offers a battery lasting up to 10 years. The Proclaim Plus SCS system can be used with Abbott's NeuroSphere Virtual Clinic connected care technology. Its therapy settings can be accessed with a personal mobile device or via an Abbott-provided mobile device.
FlexBurst360 therapy on the Proclaim Plus system enables physicians to detect the lowest effective dose of stimulation for each patient and alter it in response to changing pain requirements. The system allows doctors to control multiple independent BurstDR stimulation areas to facilitate broader pain coverage without overstimulation risk.
An Overview of the BurstDR Therapy
The BurstDR therapy from Abbott is an exclusive stimulation technology that delivers pulses or bursts of mild electrical energy to modify pain signals as they pass from the spinal cord to the brain. The Abbott BurstDR platform can mimic natural patterns found in the brain that helps in pain relief, allowing patients with chronic pain to perform everyday activities while relieving any emotional distress.
The findings from clinical studies have demonstrated that the BurstDR technology delivers superior pain relief than tonic stimulation, improves a patient’s day-to-day life and lowers the emotional suffering associated with pain. The BurstDR technology has been preferred by 87% of people compared with standard tonic stimulation technology.
Image Source: Zacks Investment Research
Despite the many advantages of BurstDR, some patients still experience pain due to multiple painful areas and evolving pain needs. However, the latest availability of the Proclaim Plus and FlexBurst360 has improved an already established platform to treat more patients who suffer from pain across several body parts and changing pain over time.
Industry Prospects
Per a report published in PR Newswire, the global chronic pain treatment market is expected to see a 7.2% CAGR between 2020 and 2030. Factors such as the surge in the geriatric population, increasing incidence of people with chronic diseases and greater awareness regarding chronic pain can be attributable to market growth.
Given the market prospects, the latest FDA approval for Abbott’s Proclaim Plus SCS system with FlexBurst360 therapy seems opportune.
Other Notable Developments
Of late, Abbott has gained a series of regulatory approvals.
In July 2022, the company gained FDA’s Breakthrough Device Designation to investigate the use of its deep brain stimulation (DBS) system in treatment-resistant depression (TRD), a form of major depressive disorder. Abbott's DBS System is a personalized, adjustable therapy that involves inserting small wires or leads into specific regions of the brain. The receipt of Breakthrough Device Designation will make the DBS System available as a novel treatment option for TRD soon.
In May 2022, the company received the FDA’s approval for its next-generation FreeStyle Libre 3 system for diabetic patients aged four years and older. The FreeStyle Libre 3 system is the most accurate 14-day continuous glucose monitor, with readings sent directly to a smartphone every minute. It is priced similarly to the previous versions to enhance access and affordability.
Share Price Performance
The stock has outperformed its industry in the past year. It has declined 15% against the industry’s 48.6% growth.
Zacks Rank and Key Picks
Currently, Abbott carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has lost 5.8% against the industry’s 33.2% fall.
Patterson Companies has an estimated long-term growth rate of 7.9%. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%. It currently flaunts a Zacks Rank #2 (Buy).
Patterson Companies has outperformed its industry in the past year. PDCO has lost 1.2% compared with the industry’s 10.3% fall in the past year.
McKesson has an estimated long-term growth rate of 9.9%. The company surpassed earnings estimates in the trailing three quarters and missed in one, delivering a surprise of 13%, on average. It currently carries a Zacks Rank #2.
McKesson has outperformed its industry in the past year. MCK has gained 81.8% against the industry’s 10.3% fall.
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Abbott (ABT) to Offer New Treatment Option for Chronic Pain
Abbott Laboratories (ABT - Free Report) recently received FDA approval for its novel Proclaim Plus spinal cord stimulation (SCS) system featuring FlexBurst360 therapy. The FlexBurst360 therapy is the next generation of Abbott's proprietary BurstDR stimulation, which offers pain coverage across six areas of the trunk and/or limbs. It facilitates programming that can be changed according to a person's evolving therapeutic needs.
The Proclaim Plus SCS system has been designed to fit within an individual’s life. It is recharge-free and offers a battery lasting up to 10 years. The Proclaim Plus SCS system can be used with Abbott's NeuroSphere Virtual Clinic connected care technology. Its therapy settings can be accessed with a personal mobile device or via an Abbott-provided mobile device.
FlexBurst360 therapy on the Proclaim Plus system enables physicians to detect the lowest effective dose of stimulation for each patient and alter it in response to changing pain requirements. The system allows doctors to control multiple independent BurstDR stimulation areas to facilitate broader pain coverage without overstimulation risk.
An Overview of the BurstDR Therapy
The BurstDR therapy from Abbott is an exclusive stimulation technology that delivers pulses or bursts of mild electrical energy to modify pain signals as they pass from the spinal cord to the brain. The Abbott BurstDR platform can mimic natural patterns found in the brain that helps in pain relief, allowing patients with chronic pain to perform everyday activities while relieving any emotional distress.
The findings from clinical studies have demonstrated that the BurstDR technology delivers superior pain relief than tonic stimulation, improves a patient’s day-to-day life and lowers the emotional suffering associated with pain. The BurstDR technology has been preferred by 87% of people compared with standard tonic stimulation technology.
Image Source: Zacks Investment Research
Despite the many advantages of BurstDR, some patients still experience pain due to multiple painful areas and evolving pain needs. However, the latest availability of the Proclaim Plus and FlexBurst360 has improved an already established platform to treat more patients who suffer from pain across several body parts and changing pain over time.
Industry Prospects
Per a report published in PR Newswire, the global chronic pain treatment market is expected to see a 7.2% CAGR between 2020 and 2030. Factors such as the surge in the geriatric population, increasing incidence of people with chronic diseases and greater awareness regarding chronic pain can be attributable to market growth.
Given the market prospects, the latest FDA approval for Abbott’s Proclaim Plus SCS system with FlexBurst360 therapy seems opportune.
Other Notable Developments
Of late, Abbott has gained a series of regulatory approvals.
In July 2022, the company gained FDA’s Breakthrough Device Designation to investigate the use of its deep brain stimulation (DBS) system in treatment-resistant depression (TRD), a form of major depressive disorder. Abbott's DBS System is a personalized, adjustable therapy that involves inserting small wires or leads into specific regions of the brain. The receipt of Breakthrough Device Designation will make the DBS System available as a novel treatment option for TRD soon.
In May 2022, the company received the FDA’s approval for its next-generation FreeStyle Libre 3 system for diabetic patients aged four years and older. The FreeStyle Libre 3 system is the most accurate 14-day continuous glucose monitor, with readings sent directly to a smartphone every minute. It is priced similarly to the previous versions to enhance access and affordability.
Share Price Performance
The stock has outperformed its industry in the past year. It has declined 15% against the industry’s 48.6% growth.
Zacks Rank and Key Picks
Currently, Abbott carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has lost 5.8% against the industry’s 33.2% fall.
Patterson Companies has an estimated long-term growth rate of 7.9%. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%. It currently flaunts a Zacks Rank #2 (Buy).
Patterson Companies has outperformed its industry in the past year. PDCO has lost 1.2% compared with the industry’s 10.3% fall in the past year.
McKesson has an estimated long-term growth rate of 9.9%. The company surpassed earnings estimates in the trailing three quarters and missed in one, delivering a surprise of 13%, on average. It currently carries a Zacks Rank #2.
McKesson has outperformed its industry in the past year. MCK has gained 81.8% against the industry’s 10.3% fall.