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Morgan Stanley provided color on Abbott Laboratories
ABT after an FDA panel discussed the safety of some of its products.
In a research report published today, Morgan Stanley states, "An FDA panel convened yesterday to
discuss safety data from the ACCORD study of
combination fenofibrate/statin therapy in diabetics. The
panel recommended that Abbott be required to run
additional clinical studies to evaluate the drug's risk
profile in combination therapy with statins. It also
recommended additional disclosure in the labeling to
reflect the results of the ACCORD study, which showed
no outcomes benefit from adding fenofibrates to statin
therapy in reducing cardiovascular events in patients
with TG levels averaging 162mg/dL."
Morgan Stanley currently has an Overweight rating on Abbott's shares. On Thursday, Abbott lost 0.74% of its value to close the day at $53.42.
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