Abbott Laboratories - ABT STOCK NEWS

Abbott recently presented three-year data on the Amplatzer Piccolo Occluder at the Pediatric and Congenital Interventional Cardiovascular Society Symposium. This device, designed for treating patent ductus arteriosus (PDA) in newborns, exhibits a 95.5% survival rate with no procedure-related deaths and a 2% serious adverse event rate. The minimally invasive procedure reduces the need for riskier surgeries, effectively closing PDA in almost all patients. A PDA affects roughly 1 in 2,000 births, emphasizing the significance of this innovation for vulnerable infants.

Abbott announced groundbreaking findings from the MOMENTUM 3 study, revealing that its HeartMate 3 heart pump extends survival of advanced heart failure patients beyond five years. With over 1,000 participants, the results show a nearly 60% five-year survival rate, comparable to heart transplant recipients. This heart pump offers a vital alternative for patients who lack transplant eligibility and face median survival of less than a year. The study highlights the need for increased awareness and access to this technology among health professionals.

Abbott has received FDA approval for its Proclaim™ Plus spinal cord stimulation (SCS) system, enhancing pain relief capabilities using FlexBurst360™ therapy. This next-generation system can address pain across six body areas and adapts to patient needs. It features a recharge-free battery lasting up to 10 years and integrates with Abbott's NeuroSphere™ Virtual Clinic for remote adjustments. With chronic pain impacting over 50 million Americans, this innovation positions Abbott to be a leader in neurostimulation technology, offering effective relief beyond traditional systems.

Abbott's recent study, published in The Lancet Neurology, reveals that two blood biomarkers, GFAP and UCH-L1, can accurately predict recovery from traumatic brain injury (TBI). Utilizing Abbott's i-STAT™ TBI Plasma test, the study demonstrated biomarker levels measured within 24 hours post-injury correlate with long-term outcomes, including disability and mortality risks. With a predictive accuracy of 87-89%, these biomarkers facilitate timely treatment decisions. Abbott is also pursuing further FDA clearances to enhance test accessibility.

Abbott and WeightWatchers have announced a strategic partnership aimed at enhancing the health management of individuals living with diabetes. This collaboration will integrate Abbott's FreeStyle Libre continuous glucose monitoring technology with WeightWatchers' diabetes-focused weight loss program. The initiative aims to provide users with actionable insights into their diet and glucose control, thereby improving overall health outcomes. The partnership will initially target users in the United States, commencing in 2023.

Abbott (NYSE: ABT) reported a strong second-quarter performance ending June 30, 2022, with sales of $11.3 billion, reflecting a 10.1% increase and 14.3% organic growth. GAAP diluted EPS grew to $1.14, while adjusted EPS rose 22.2% to $1.43. Notably, $2.3 billion came from global COVID-19 testing-related sales. Abbott raised its full-year EPS guidance, projecting at least $3.50 GAAP and $4.90 adjusted EPS. New product approvals and robust performance in the Diagnostics segment contributed to growth, although Nutrition sales were impacted by a recall.

Abbott (NYSE: ABT) has received Breakthrough Device Designation from the U.S. FDA for its deep brain stimulation (DBS) system aimed at treating treatment-resistant depression (TRD). This designation allows for expedited review, potentially making this new treatment option available sooner to the 2.8 million Americans diagnosed with TRD annually. The DBS system, traditionally used for movement disorders, may alleviate depressive symptoms by modulating brain activity. Abbott aims to collaborate with the FDA to ensure safety and effectiveness in this application.

Abbott (NYSE: ABT) will announce its second-quarter 2022 financial results on July 20, 2022, prior to market opening. A live webcast of the earnings conference call is scheduled for 8 a.m. Central time on the same day, accessible via Abbott's Investor Relations website. Abbott is recognized as a global healthcare leader with diverse technologies across diagnostics, medical devices, and nutritionals, serving over 160 countries with a workforce of 113,000 employees.

Abbott has declared a quarterly common dividend of 47 cents per share, marking the 394th consecutive quarterly dividend since 1924. This dividend will be payable on August 15, 2022, to shareholders of record by July 15, 2022. Abbott's consistent dividend increases span 50 consecutive years, and it is recognized as a member of the S&P 500 Dividend Aristocrats Index, which highlights companies maintaining annual dividend growth for over 25 years.