Abbot moved from 24th to 20th in 2016, and there’s every indication that by 2018 it will have risen higher in the ranks, thanks to its $25 billion acquisition of St. Jude Medical in January 2016.
In August, the FDA approved HeartMate 3, a bridge-to-transplant cardiac assist device that pumps blood for heart-failure patients using a fully magnetically levitated impeller that simulates the beating of a heart. The HeartMate 3 device is among key products in the St. Jude Medical portfolio, along with the other major launch this year, Tacticath, a contact force enabled catheter.
And Abbott is also making moves in the diabetes space, inking a deal with Bigfoot Biomedical, integrating its FreeStyle Libre glucose sensing technology with Bigfoot’s insulin delivery solutions.
* Revenues from Abbott’s medical device segment.