Abbott Laboratories ($ABT) announced that it has launched its Proclaim DRG Neurostimulation System in Europe. The system is designed to deliver dorsal root ganglion stimulation to patients with chronic neuropathic pain. The system is magnetic resonance conditional. It is also recharge free and is easy to use as it uses an iPod touch mobile device as its controller.

The company also announced that its ACCURATE study shows that its dorsal root ganglion stimulation therapy has advantages over traditional spinal cord stimulation treating patients suffering from complex regional pain syndrome.

Abbott is taking several other initiatives as well. The company also recently announced the U.S. launch and the first commercial uses of the new EnSite Precision™ cardiac mapping system and Advisor™ FL Circular Mapping Catheter, Sensor Enabled™. These products come from the Abbott electrophysiology segment of the company, which is also one of the fastest growing units of Abbott.

The company stock has gained over 5% on Year to Date basis. Its latest announcements are likely to push stock prices further up. The stock is currently nearly 12 percent lower than is 52 weeks and thus has a healthy potential upside.