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Abiomed plunges 30% on federal investigation into Impella marketing

Thu, 11/01/2012 - 12:57pm
Mass Device

Abiomed is down 30% on Wall Street today following the company's earnings release and news of a federal investigation into marketing practices for Abiomed's Impella implantable heart pump.

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Wall Street investors fled from heart pump maker Abiomed (NSDQ:ABMD) today, with shares down more 30% in mid-day trading following the company's latest earnings report and news of a federal investigation.

Abiomed unveiled today that it received notice from the U.S. Attorney's Office for the District of Columbia that the agency is conducting an investigation into marketing and labeling for the Impella 2.5 implantable heart pump.

Yesterday the Danvers, Mass.-based medical device maker received a subpoena from the Health Insurance Portability and Accountability Act, according to regulatory documents.

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