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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.
On September 2, 2021, Abbott (NYSE: ABT) announced its acquisition of Walk Vascular, LLC, a company specializing in a minimally invasive thrombectomy system for peripheral blood clots. The acquisition aims to enhance Abbott's endovascular product portfolio, integrating Walk Vascular's innovative JETi Peripheral Thrombectomy Systems. These systems are FDA-cleared and designed to efficiently remove clots while minimizing risks. Financial terms of the deal remain undisclosed.
Abbott (NYSE: ABT) announced results from the Amulet™ LAA Occluder IDE trial, which compares its Amulet device to Boston Scientific's Watchman for treating atrial fibrillation (AFib) patients at stroke risk. The Amulet device demonstrated superior LAA closure (98.9% vs. 96.8%) and was effective in 98.4% of patients. Importantly, patients with Amulet required no blood thinners post-implantation, contrasting with 82% of Watchman patients who needed anticoagulants. The trial supports the recent U.S. approval of Amulet, emphasizing its potential to enhance patient care and reduce stroke risk.
Abbott (NYSE: ABT) has received FDA approval for its Amplatzer™ Amulet™ Left Atrial Appendage Occluder, designed for patients with atrial fibrillation (AFib) at risk of ischemic stroke. This innovative device allows immediate closure of the left atrial appendage, reducing stroke risk and eliminating the need for blood-thinning medication post-procedure. The Amulet features a dual-seal technology, is recapturable, and offers a range of sizes. Previously approved in over 80 countries, this milestone enables U.S. patients and physicians to benefit from this cutting-edge treatment.
Abbott (NYSE: ABT) has received FDA clearance for its Ultreon Software, an innovative optical coherence tomography (OCT) imaging platform utilizing artificial intelligence to enhance coronary blood flow assessments. Following CE Mark approval in Europe, this technology aims to assist cardiologists in decision-making and improve patient treatment pathways. The Ultreon Software integrates with Abbott's Dragonfly OpStar catheter and PressureWire X guidewire, optimizing stent placements. A recent study indicates 83.2% of physicians see advancements in OCT as enhancing patient care.
Abbott received FDA clearance for the FreeStyle Libre 2 iOS app, enhancing diabetes management with real-time glucose monitoring accessible via compatible iPhones. This innovation allows users and caregivers to track glucose levels without a reader, making diabetes management easier and more affordable. The app supports users aged 4 and older and integrates with the LibreLinkUp app for remote monitoring. With a 14-day wear time, the FreeStyle Libre 2 sensor is the longest-lasting on the market. Abbott's system is widely accessible, with reimbursement in 38 countries, including the U.S.
A study by Ohio State University and Abbott reveals that half of adults with diabetes fail to meet daily protein intake recommendations, which correlates with lower diet quality and increased physical limitations. The research analyzed over 23,000 adults, finding that inadequate protein intake leads to poorer nutrient density and higher carbohydrate consumption. Abbott's Glucerna 30g protein shake aims to address this gap, providing a nutritional option for diabetes management. The study underscores the significance of balancing nutrient intake to support strength and mobility in diabetes patients.
Abbott (NYSE: ABT) reported strong financial results for Q2 2021, with sales of $10.2 billion, a 39.5% increase year-over-year. Diluted EPS grew to $0.66 GAAP and $1.17 adjusted, reflecting a 105.3% rise. Key segments driving growth included Diagnostics, which surged 62.8% due to $1.3 billion in COVID-19 testing, and Medical Devices, which rose 51.3%. Abbott projects full-year diluted EPS between $2.75 and $2.95, with adjusted EPS of $4.30 to $4.50. The company declared its 390th consecutive quarterly dividend of $0.45, showcasing its commitment to shareholder returns.
Abbott (NYSE: ABT) announced FDA approval for its XIENCE stents, allowing a one-month DAPT (Dual Antiplatelet Therapy) duration for high bleeding risk (HBR) patients. This makes it the shortest DAPT indication globally. Additionally, the next-generation XIENCE Skypoint stent received FDA and CE Mark approval, designed for easier placement and effective treatment of larger vessels. The approvals are backed by extensive clinical data, affirming the safety of early DAPT discontinuation with XIENCE stents, which can improve patient outcomes while minimizing bleeding risks.
Abbott announced at the ADA 81st Scientific Sessions significant findings regarding its FreeStyle Libre continuous glucose monitoring (CGM) system, demonstrating its potential to enhance health equity for Americans with diabetes. The data indicated notable improvements in health outcomes, including reduced HbA1C levels and fewer acute complications, particularly among diverse and underserved populations. Moreover, increasing FreeStyle Libre usage could potentially save Medicaid $23 million annually by minimizing health complications.
Abbott (NYSE: ABT) will release its second-quarter 2021 financial results on July 22, 2021, before the market opens. The announcement will be followed by a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), which can be accessed via Abbott's Investor Relations website. Abbott is a leader in healthcare, providing technologies that improve health outcomes across various segments, including diagnostics and medical devices, with operations in over 160 countries.
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