Cardinal Health Inc. CAH, +1.70% shares rose nearly 3% in premarket trade on Wednesday after a Food and Drug Administration advisory committee recommended the company’s stent graft system for approval. The committee voted 11 to four in favor of the system. The FDA does not have to follow an advisory committee’s recommendation, but often does. The product, the Incraft AAA Stent Graft System, is a repair technology for infrarenal abdominal aortic aneurysms, which occur in the lower part of the body’s main artery and can be life-threatening. The aneurisms affect an estimated 1.5 million individuals in the U.S., and account for about 10,000 deaths each year. Though other treatment options exist, Cardinal Health says that its Incraft system is designed for a wide range of patient populations. Cardinal Health shares have dropped 25.9% over the last three months, compared with a 0.8% rise in the S&P 500 SPX, +0.13% and a 1.3% rise in the Dow Jones Industrial Average DJIA, +0.06%
Cardinal Health shares rise 3% on FDA recommendation for stent graft system
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