Abbott Laboratories - ABT STOCK NEWS

Abbott has launched an upgraded version of its NeuroSphere myPath digital health app, enhancing its functionality for tracking pain relief during treatment with neurostimulation devices. Available for both Apple and Android, the app facilitates better communication between doctors and patients, enabling a shared view of patient-reported outcomes. Chronic pain affects over 50 million Americans, and the app aims to personalize treatment by allowing patients to document pain levels and overall well-being throughout their therapy journey.

Abbott reported Q1 2022 sales of $11.9 billion, reflecting a 13.8% increase year-over-year, with organic growth at 17.5%. COVID-19 testing-related sales reached $3.3 billion. Excluding these, reported sales grew 3.9%, and organic sales grew 7.7%. GAAP diluted EPS rose by 37.0% to $1.37, while adjusted EPS grew 31.1% to $1.73. Notable developments include FDA approvals for new products, although Nutrition sales decreased, impacted by a voluntary recall.

Abbott has received FDA approval for its Aveir™ single-chamber (VR) leadless pacemaker, designed for patients with slow heart rhythms. This innovation, the world's only leadless pacemaker with unique mapping capability, allows physicians to assess device positioning before implantation. With a projected battery life up to twice as long as competitors, it can also be retrieved for therapy adjustments. The approval comes after successful results from the global LEADLESS II study. This device marks a significant advancement in cardiac care, minimizing complications associated with traditional pacemakers.

Abbott (NYSE: ABT) is set to announce its first-quarter 2022 financial results on April 20, 2022, before market open. A live earnings conference call will follow at 8 a.m. Central time, accessible via Abbott's Investor Relations website. Abbott is a global healthcare leader with a diverse portfolio in diagnostics, medical devices, nutritionals, and branded generic medicines, operating in over 160 countries.

Abbott's FreeStyle Libre has received expanded reimbursement coverage in Japan, now including all individuals with diabetes who inject insulin at least once daily. Effective April 1, 2022, this approval is anticipated to increase access to continuous glucose monitoring (CGM) for many patients, reducing the need for fingerstick tests. Abbott emphasizes that this expansion enhances diabetes management by providing comprehensive glucose data, ultimately aiding in better health outcomes. Experts believe this will improve patient control over diabetes and reduce complications.

Abbott (NYSE: ABT) announced FDA approval for an expanded indication of its CardioMEMS™ HF System, enabling monitoring for an additional 1.2 million U.S. patients with heart failure. The sensor allows for early detection of worsening conditions and can significantly reduce hospitalizations. Through clinical data from the GUIDE-HF trial, it was shown that therapy guided by the sensor can lead to a 34% reduction in heart failure hospitalizations for Class II patients.

Abbott has declared a quarterly common dividend of 47 cents per share, payable on May 16, 2022, to shareholders on record by April 15, 2022. This marks the company's 393rd consecutive quarterly dividend since 1924 and highlights its achievement of increasing dividend payouts for 50 consecutive years. Abbott is part of the S&P 500 Dividend Aristocrats Index, showcasing its stability and commitment to returning value to shareholders.

Abbott (NYSE: ABT) is voluntarily recalling powder formulas, including Similac, Alimentum, and EleCare, produced at its Sturgis, Mich., facility due to consumer complaints of contamination with Cronobacter sakazakii and Salmonella Newport. While no finished products tested positive for these bacteria, the company discovered evidence of Cronobacter sakazakii in non-product areas. The recall affects products with expiration dates of April 1, 2022, or later. Parents are advised to check their products and are not required to take action on previously consumed items.

Abbott (NYSE: ABT) has achieved a significant milestone by conducting the world's first implants of a dual-chamber leadless pacemaker, as part of its AVEIR DR i2i pivotal clinical study. This innovative device enables synchronized pacing in both heart chambers, addressing the needs of 80% of pacemaker patients. The trial, which includes up to 550 patients across multiple regions, aims to evaluate the device's clinical safety and efficacy. The dual-chamber system is designed to minimize complications associated with traditional lead pacemakers.