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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) 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.
Abbott (NYSE: ABT) has launched a groundbreaking trial called TAP-CHF, aimed at improving treatment for patients with both atrial fibrillation (AFib) and heart failure. This trial addresses the challenges of managing these coexisting conditions, which can lead to increased risk of stroke and hospitalization. By enrolling up to 100 patients across 10 sites, the trial will evaluate the effectiveness of novel monitoring techniques and treatment strategies. Abbott seeks to enhance patient outcomes through innovative therapies, aiming to provide critical insights into the management of complex cardiovascular diseases.
Abbott reported strong first-quarter 2021 financial results, with sales of $10.5 billion, reflecting a 35.3% increase year-on-year. GAAP diluted EPS was $1.00, while adjusted diluted EPS grew 103.1% to $1.32. The company anticipates full-year diluted EPS of at least $3.74, maintaining a forecast for adjusted EPS of at least $5.00. COVID-19 testing contributed $2.2 billion to sales, and recent product launches are driving growth. Abbott declared its 389th consecutive quarterly dividend, highlighting its consistent dividend growth.
Abbott (NYSE: ABT) has initiated shipments of its BinaxNOW™ COVID-19 Ag Self Test to retailers nationwide, with availability expected soon at CVS, Walgreens, and Walmart. This over-the-counter test, priced at $23.99 for a two-count pack, aims to provide affordable, accessible testing. Abbott plans to produce tens of millions of tests monthly and can adapt distribution based on regional virus surges. The BinaxNOW Self Test is designed for both symptomatic and asymptomatic individuals and has received FDA Emergency Use Authorization for home testing.
Abbott (NYSE: ABT) partners with marathon runner Eliud Kipchoge and the NN Running Team to enhance athletic training using Abbott's Libre Sense Glucose Sport Biosensor. The biosensor, which monitors glucose levels in real-time, will be utilized in the NN Mission Marathon on April 18, 2021, a qualifying race for the Olympics. Kipchoge emphasizes its potential to improve performance through personalized nutrition insights. CE Marked since September 2020, the biosensor aims to make glucose monitoring commonplace among athletes, promoting optimal training and competitive advantage.
Abbott (NYSE: ABT) announced the CE Mark approval for its TriClip™ Transcatheter Tricuspid Valve Repair System, addressing tricuspid regurgitation (TR) with a minimally invasive solution. This next-generation device is designed for tailored repairs, improving treatment for patients unfit for open-heart surgery. With data from the TRILUMINATE study showing symptomatic improvements, TriClip G4 enhances cardiologists' ability to treat TR. Additionally, it received Health Canada approval, expanding access to this innovative therapy worldwide.
Abbott (NYSE: ABT) announced that its XIENCE stent has received CE Mark approval in Europe for a shorter duration of dual anti-platelet therapy (DAPT) of just 28 days, aimed at patients with high bleeding risk (HBR). This marks the shortest DAPT indication globally. Recent studies showed that one-month or three-month DAPT followed by aspirin monotherapy is safe for HBR patients. The findings reinforce the XIENCE stent's safety profile, showing no increase in cardiac events while significantly reducing severe bleeding, and Abbott is pursuing U.S. approval for the same indication.
Abbott has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Self Test for asymptomatic, over-the-counter use. This allows individuals to access the test without a prescription, targeting a broader audience including children as young as two. Abbott plans to distribute the test through major retailers, emphasizing its affordability for regular and event-specific testing. The test provides results in 15 minutes and has demonstrated high performance metrics, including 84.6% sensitivity and 98.5% specificity, benefiting from Abbott's extensive manufacturing capabilities.
Abbott will announce its first-quarter 2021 financial results on April 20, 2021, before the market opens. A live webcast of the earnings conference call will follow at 8:30 a.m. CT. The event will be accessible on Abbott's Investor Relations website. Abbott, a global healthcare leader, provides a range of healthcare solutions, employing around 109,000 colleagues in over 160 countries. For further details, visit their official website.
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