FDA approves a stent system for renal artery stenosis, says Abbott

In an announcement made by Abbott Laboratories earlier on Wednesday, the company said that a stent system (mesh-wire tubes used to prop arteries open) known as RX Herculink Elite, for the treatment of kidney artery disease, has been approved by the United States Food and Drug Administration.

Patients who have high blood pressure will benefit from the Herculink system as it is intended to treat renal artery stenosis. This is a condition caused by the narrowing of the main arteries that supply blood to the kidneys resulting in kidney failure along with increased risk of heart disease, stroke, and peripheral artery disease.
With a steep fall in the markets on Wednesday morning, company shares plunged $1.53, or 3.2 percent, to $47.03.