Welcome to our dedicated page for Abbott Laboratories news (Ticker: ABT), a resource for investors and traders seeking the latest updates and insights on Abbott Laboratories stock.
Abbott Laboratories (NYSE: ABT) is a globally recognized American multinational company headquartered in Abbott Park, Illinois. Founded in 1888, Abbott has established itself as a leader in medical devices and health care. The company manufactures and markets a wide range of products, including cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment, testing kits, and branded generic drugs.
Abbott's product portfolio includes pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays along with point-of-care diagnostic equipment. Approximately 60% of Abbott’s sales are derived from markets outside the United States, underlining its global reach and influence.
Recently, Abbott introduced the PROTALITY™ brand, a high-protein nutrition shake aimed at supporting weight loss while preserving muscle mass. This innovation reflects Abbott's commitment to addressing global health challenges such as obesity and muscle health. The company also continues to make strides in medical technology with advancements like the TriClip™ system for tricuspid valve repair, and the FreeStyle Libre continuous glucose monitoring systems, which have set new standards in diabetes management.
Abbott is not only focused on innovative product development but also on strategic partnerships and sustainability. The extension of their partnership with the Real Madrid Foundation, aimed at reducing childhood malnutrition and promoting healthy habits, is a testament to their commitment to global health improvements.
Financially, Abbott has demonstrated robust performance, as evidenced by its consistent dividend payouts and its inclusion in the S&P 500 Dividend Aristocrats Index. The company reported strong Q1 2024 results with significant growth in their core business segments, further supported by successful product launches and clinical innovations.
Abbott’s mission to help people live more fully at all stages of life drives their development of life-changing technologies across diagnostics, medical devices, nutritionals, and branded generic medicines. With a workforce of over 114,000 employees serving people in over 160 countries, Abbott continues to set benchmarks in the healthcare industry.
Abbott has announced significant partnerships aimed at enhancing diabetes management through advanced technology. The collaborations, which include companies like Bigfoot Biomedical, Insulet, Novo Nordisk, Sanofi, Tandem, and Ypsomed, focus on integrating Abbott's FreeStyle Libre systems with various insulin delivery methods. This synergy is expected to simplify diabetes care for approximately 63 million insulin-dependent individuals globally. The initiatives are part of Abbott's strategy to create seamless, personalized care, enabling users to make informed treatment decisions and improve their overall management of diabetes.
Abbott (NYSE: ABT) announced FDA approval for its Proclaim™ XR spinal cord stimulation (SCS) system, targeting painful diabetic peripheral neuropathy (DPN). This innovative system offers a non-medication alternative for the estimated 34.2 million Americans living with diabetes, of whom about 50% may develop neuropathy. The Proclaim XR SCS system is designed for hassle-free pain relief with a battery life of up to 10 years. This approval enhances Abbott's commitment to providing comprehensive diabetes care solutions, allowing patients to seamlessly manage pain while improving their quality of life.
Abbott (NYSE: ABT) reported fourth-quarter 2022 sales of $10.1 billion, down 12% year-over-year, mainly due to a decline in COVID-19 testing-related sales. Full-year sales reached $43.7 billion, growing 1.3% overall and 6.4% organically. GAAP diluted EPS for the fourth quarter was $0.59 and adjusted EPS was $1.03. For 2023, Abbott projects GAAP EPS of $3.05 to $3.25 and adjusted EPS of $4.30 to $4.50. The company continues to focus on innovation, highlighted by recent FDA approvals of new medical devices.
Abbott (NYSE:ABT) has partnered with Blood Centers of America to launch a pioneering mixed reality experience aimed at enhancing the blood donation process. This technology, showcased at CES 2023, is controlled entirely through eye tracking and provides donors with an immersive digital environment. The initiative seeks to attract younger blood donors amid a declining donor rate, particularly among those under 30. Currently being piloted at select locations, the mixed reality experience is designed to make the donation process more engaging and appealing to potential donors.
Abbott (NYSE: ABT) announced FDA approval for its Navitor system, designed for transcatheter aortic valve implantation (TAVI) to treat severe aortic stenosis in patients at high or extreme surgical risk. The Navitor device reduces risk of blood leakage around the valve, enhancing patient care. It includes a unique NaviSeal fabric cuff to minimize paravalvular leak and is the only self-expanding TAVI system with leaflets within the native valve, improving future coronary artery access. This system supports optimal blood flow, further solidifying Abbott's strategy in minimally invasive heart disease treatments.
Ra Medical Systems has completed a stock-for-stock merger with Catheter Precision, aimed at enhancing its cardiac electrophysiology market presence. David Jenkins, CEO of Catheter Precision, will serve as Executive Chairman. The transaction includes a conversion of $25 million in debt to non-voting Convertible Preferred Stock, granting Catheter Precision stakeholders approximately 87.7% of RMED’s equity. Ra Medical anticipates raising up to
Abbott has partnered with Blood Centers of America to launch a pioneering mixed reality experience aimed at enhancing the blood donation process. This innovative technology, showcased at CES 2023, uses eye tracking to create an engaging digital environment for donors, addressing the decline in donations among younger individuals. Currently in pilot at select locations, this initiative seeks to improve the overall donation experience while ensuring donor safety. The initiative targets increasing the donation rate among the under-30 demographic, which has seen a significant decline.
Abbott (NYSE: ABT) is set to release its fourth-quarter 2022 financial results on January 25, 2023, prior to market opening. Following the announcement, a live webcast of the earnings conference call will take place at 8 a.m. CT (9 a.m. ET), accessible via Abbott's Investor Relations website. Abbott is a leading global healthcare firm with a diverse portfolio, including diagnostics, medical devices, nutritionals, and branded generic medicines, serving over 160 countries with a workforce of approximately 113,000 employees.
Abbott has announced that its FreeStyle Libre 3 sensor is now integrated with the mylife™ Loop automated insulin delivery (AID) system, marking a significant advancement in diabetes management. This innovative system, available in Germany and expanding to other European countries in 2023, automates insulin delivery based on real-time glucose data, simplifying diabetes care. Currently, this solution is not available in the United States. With over 4.5 million users, Abbott aims to enhance glucose control, helping many regain lost healthy years due to inadequate diabetes management.
Abbott (NYSE: ABT) will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 11 a.m. Central time. The presentation will be led by Robert B. Ford, chairman and CEO. A live webcast will be available on Abbott's Investor Relations website, with an archived version accessible later the same day. Abbott is a leading global healthcare company committed to enhancing lives through its diverse portfolio, impacting over 160 countries with approximately 113,000 employees.
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