On Monday, Abbott Laboratories announced that their Esprit BTK Everolimus Eluting Resorbable Scaffold System has been approved by the U.S. Food and Drug Administration. This device is intended for patients who suffer from below-the-knee chronic limb-threatening ischemia, also known as CLTI-BTK.
Chronic limb-threatening ischemia is a subtype of peripheral artery disease in which blood and oxygen supply to the lower leg and foot is hindered due to clogged arteries.
Abbott Laboratories explains that this innovative stent is incorporated into the leg through a procedure that is minimally invasive, aiming to remove the blockages. The device then provides support to the vessels for approximately three years until they have recuperated their strength.
At present, Abbott's shares are trading at $107.75 on the New York Stock Exchange, marking a 0.20 percent increase.