Abbott Laboratories, a medical device manufacturer based in Abbott Park, Illinois, has laid off approximately 450 employees at its stent manufacturing plant near San Diego, California. According to a news article in the San Diego Union-Tribune, the plant will retain approximately 2,000 employees in their current roles.
The Temecula-based plant manufactured both interventional cardiology devices and stents. The latest layoffs follow a company-wide reduction in support and manufacturing positions for last-gen products that have suffered from reduced demand.
Last week, Abbott cut 200 jobs at a catheter and stent company based in Ireland. However, the Union-Tribune article states that the company’s Temecula plant still plays a critical role in Abbott’s future. In particular, the Temecula plant manufacturers the company’s Absorb stent.
The Abbott Absorb stent is made of a specialized bioabsorbable material that will dissolve in the body once it has completed its role. It doesn not require surgical removal, and it does not leave behind artifacts in a patient’s cardiovascular system that could be harmful in the future.
Since Abbott recently spun out its pharmaceutical division into AbbVie, the company’s cardiovascular devices form a significant portion of its core product line. In the last quarter, the company’s vascular division reported an 8.1 percent decrease in revenue. This was due to a 24.9 percent decrease in stent sales in the United States.
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