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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.
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.
Abbott's recent Harris Poll survey reveals that 93% of U.S. adults exercising intensely recognize hydration's importance during workouts. However, 46% wrongly believe energy drinks help rehydrate after exercise, contradicting scientific advice. Dehydration occurs when fluid loss exceeds intake, affecting performance and recovery. Abbott promotes its Pedialyte Sport as an optimal rehydration solution with three times the electrolytes and less sugar than leading sports drinks. The survey included 2,047 adults, with 799 participating in intense exercise at least thrice weekly.
Abbott's internship program enables high school students to earn college credit for STEM internships, a first endorsed by the American Council on Education. Over nearly a decade, the program has supported diverse students, with 60% coming from underrepresented backgrounds. This initiative is part of Abbott's 2030 Sustainability Plan, aiming to provide STEM opportunities to 100,000 young people, including women and underrepresented groups. The program aims to inspire more students to pursue STEM careers and has already fostered a talent pipeline for Abbott's workforce.
Abbott's board of directors declared a quarterly dividend of 45 cents per share, marking the 390th consecutive quarterly dividend since 1924. This dividend is payable on August 16, 2021, to shareholders on record as of the close of business on July 15, 2021. Abbott has a strong track record, having increased its dividend payout for 49 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.
Abbott announced its readiness to meet the increasing demand for mechanical circulatory support (MCS) devices, particularly after Medtronic's discontinuation of the HeartWare™ ventricular assist device. Abbott's HeartMate 3 heart pump is now available for patients with advanced heart failure, including those awaiting transplants. The device boasts a mortality benefit with 87% survival at one year. Abbott is enhancing support and education for physicians adopting HeartMate 3, which has assisted nearly 18,000 patients globally and can significantly improve quality of life.
Abbott (NYSE: ABT) revised its 2021 financial outlook due to reduced COVID-19 testing demand, reflecting a shift towards normalization as cases decline and vaccination efforts accelerate. The revised guidance projects 2021 GAAP diluted EPS between $2.75 and $2.95, with adjusted diluted EPS expected to be between $4.30 and $4.50, demonstrating double-digit growth from the previous year. Despite the downturn in COVID-19 testing, Abbott's core business shows strong growth, supported by recent product launches. Financial adjustments include specified items of $1.55 per share for restructuring and alignment with current market demands.
Abbott (NYSE: ABT) has received CE Mark approval for its Navitor™ transcatheter aortic valve implantation (TAVI) system, designed for patients with severe aortic stenosis at high or extreme surgical risk. The Navitor valve incorporates innovative features, including a unique fabric cuff to prevent blood leakage and compatibility with the FlexNav™ delivery system, enhancing procedural efficacy. This advancement comes at a critical time as aortic stenosis cases are expected to rise significantly in Europe and the U.S. over the coming decades, necessitating less invasive treatment options.
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