Items and the stats

each item in the game has its own script defining the stats of that item such as its name and the damage it deals when it strikes an entity as well as the model assigned to that item. Does anyone know a way to where if for example, if the player is holding something in his hand such as an axe, his stats can change in a way to where:
this.playerDamage = (the damage points of the item he is holding);
please help.