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US FDA approves Abbott medical device to treat chronic pain

Abbott Laboratories said the U.S. Food and Drug Administration approved its Proclaim XR medical device to treat chronic pain.

The Abbott Park, Ill.-based medical-device maker's product helps change pain signals as they travel from the spine to the brain and was found to be effective in 24 patients enrolled in a study called Bold.

There are an estimated 50 million people in the U.S. who are affected by chronic pain, which hinders one's ability to move around and work.