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'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.
Abbott's FreeStyle Libre 3 system achieves a mean absolute relative difference (MARD) of 7.9%, becoming the first 14-day continuous glucose monitor (CGM) to fall below an 8% threshold. This breakthrough was presented at the American Diabetes Association's 82nd Scientific Sessions on June 5, 2022. The system aids healthcare providers in making earlier treatment decisions while significantly enhancing diabetes management accuracy and confidence.
Abbott is developing a groundbreaking biowearable device to monitor glucose and ketone levels simultaneously, targeting individuals with diabetes and the risk of diabetic ketoacidosis (DKA). The device has received breakthrough device designation from the FDA, expediting its review. With studies showing that continuous ketone monitoring could prevent DKA, the product aims to enhance diabetes management. Clinical trials are set for 2023, and Abbott plans to ensure interoperability with insulin pumps, leveraging its existing FreeStyle Libre technology used by 4 million globally.
Abbott has received FDA clearance for the FreeStyle Libre 3, a breakthrough 14-day continuous glucose monitoring system aimed at diabetes management for individuals aged four and older. The FreeStyle Libre 3 boasts a 7.9% mean absolute relative difference (MARD), making it the most accurate CGM on the market, and is priced comparably to earlier versions to enhance affordability. With smartphone integration and a small, discreet design, it aims to address the needs of over 133 million diabetes patients in the U.S. The product will be available later this year through participating pharmacies.
Diandra Debrosse Zimmermann has made legal history as the first black woman appointed co-lead counsel in a massive products liability case against Abbott Laboratories (NYSE: ABT) and Mead Johnson. This multidistrict litigation involves over 60 lawsuits claiming that formulas like Similac, used for premature infants, led to necrotizing enterocolitis (NEC). Zimmermann emphasized the need for accountability from these corporations, citing their awareness of the risks associated with their products. The case is currently in the United States District Court for the Northern District of Illinois.
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