Biotech Values

[DewDiligence]

ABT hammered on weak TriCor data:

[This is a bizarre PR in that it avoids any mention whatsoever of the actual data. Nevertheless, the market figured it out, sending ABT’s shares down 7% to a new 12-month low. TriCor does not bear all of the blame, however, as ABT also reported today on an experimental drug called Simdax.]

http://biz.yahoo.com/prnews/051114/cgm025.html?.v=29

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Abbott Statement on FIELD Study Presented at American Heart Association Meeting and Published in The Lancet

Monday November 14, 9:03 am ET

ABBOTT PARK, Ill., Nov. 14 /PRNewswire-FirstCall/ -- In response to data on the FIELD trial being presented at a late-breaking session of the American Heart Association annual meeting and published in The Lancet, Abbott issued the following statement:

The FIELD (Fenofibrate Intervention and Event Lowering in Diabetes) study was conducted to determine whether early intervention with fenofibrate could prevent cardiovascular events in patients with type 2 diabetes. FIELD is the largest prospective study examining the effects of a cholesterol-lowering medication on cardiovascular outcomes in an exclusively diabetic population. Patients with type 2 diabetes are at three to four-fold risk for developing cardiovascular disease versus people without diabetes.

"FIELD provides important learnings on the role of early intervention with fenofibrate," said Dr. Anthony Keech, University of Sydney, Australia, and FIELD primary investigator. "Type 2 diabetes affects nearly 20 million Americans placing them at high risk for cardiovascular disease. The results of FIELD will add to the growing body of knowledge of how best to manage cardiovascular risks within this patient population."

About FIELD

The FIELD study is endorsed by the National Heart Foundation of Australia, Diabetes Australia, the New Zealand Society for the Study of Diabetes and the Finnish Diabetes Association. The FIELD study was conducted at 63 sites in Australia, Finland and New Zealand and was coordinated independently of the sponsors by the National Health and Medical Research Council (NHMRC) Clinical Trials Centre, University of Sydney, Sydney, Australia. Fournier Pharma of Dijon, France, is the main sponsor of FIELD and supplier of the fenofibrate and matching placebo medication. Fenofibrate was discovered and developed by Fournier Pharma and is approved for use in nearly 80 countries worldwide, registered as Lipanthyl® and Lipidil® in most areas outside of the United States. Fournier Pharma was acquired by the Belgian company Solvay in 2005.

Indication and Important Safety Information - TriCor (fenofibrate) tablets

Fenofibrate, marketed by Abbott as TriCor in the United States, is used in addition to appropriate diet to treat adults with high cholesterol and/or mixed dyslipidemia with or without elevated triglycerides (TG), after results of lifestyle changes are unsuccessful. TriCor reduces elevated LDL cholesterol ("bad" cholesterol), total cholesterol, TGs and apolipoprotein B, and increases HDL cholesterol ("good" cholesterol). TriCor, in addition to appropriate diet, is also used to treat adults with high TGs. Excessive body weight, drinking alcohol, diseases such as diabetes and hypothyroidism, and various drugs can contribute to high TG levels and these should be assessed by a doctor before a patient takes TriCor.
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