Company: Abbott ($ABT)
Headquarters: Abbott Park, IL
Med Tech R&D budget FY 2012: $848.2 million
The bottom line: Abbott's med tech R&D spending in 2012 dipped from $851.4 million in 2011 but essentially equals 2010 levels. It's also the final year that Abbott's R&D spending comes in as part of its drug business. As of Jan. 1, 2012, Abbott's brand-name drug business is now its own company called AbbVie ($ABBV). That leaves Abbott with a focus on medical devices, diagnostics, nutritional products and generic drugs. Its device and diagnostics research spending priorities in 2012 will likely continue through 2013. Those areas include the next-generation Xience Xpedition drug-eluting stent; Absorb, which would become the world's first drug-eluting bioresorbable vascular scaffold; and various molecular diagnostics projects. Other research areas: MitraClip, which is designed to treat patients with mitral regurgitation.
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