Abbott Wins Approval for Stent Ahead of J

Abbott Laboratories said it won U.S. approval of a carotid-artery stent for preventing strokes, beating Johnson & Johnson, the world’s biggest device maker, in the race to compete with a device sold by Guidant Corp.

Abbott will comply with the Food and Drug Administration’s request for continued research on the device after approval, a company spokesman said. Guidant last year won the first FDA approval for such a stent, which keeps blood flowing in the artery that runs through the neck and supplies the brain.

The Abbott device, known as the Xact, will cost about $3,000, about the same as Guidant’s product, the spokesman said. J&J; has agreed to acquire Guidant for $25.4 billion by the end of this year.

Shares of Abbott Park, Ill.-based Abbott fell 15 cents to $43.70.