Morgan Stanley Provided Color on Abbott Laboratories, Overweight

Morgan Stanley provided color on Abbott Laboratories

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.