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 (NYSE: ABT) has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card, allowing at-home testing with results in minutes. Priced at $25, this test is among the most affordable. Partnering with eMed™, Abbott aims to deliver 30 million tests in Q1 2021 and 90 million in Q2. The test boasts a 91.7% sensitivity and 100% specificity in early symptom cases. This innovation is crucial for increasing access to rapid testing, especially for vulnerable populations, and helps manage the ongoing COVID-19 pandemic.
Abbott has received the CE Mark for its new quantitative SARS-CoV-2 IgG antibody test, enhancing its COVID-19 testing portfolio. This lab-based serology test quantitatively measures IgG levels, providing insights into an individual's immune response to the virus and vaccines. The test boasts high specificity (99.60%) and sensitivity (99.35%) when conducted 15 days after symptoms appear. Abbott plans to seek FDA emergency use authorization for this test as part of its ongoing commitment to support global healthcare in combating COVID-19.
Abbott has launched a new hydration product, Pedialyte with Immune Support, featuring key nutrients aimed at enhancing immune health. This formulation includes prebiotics, vitamin B12, vitamin C, vitamin E, and zinc, designed to complement the electrolyte balance in traditional Pedialyte products. The launch responds to the growing hydration needs among consumers, particularly in light of current health concerns. This product is part of a broader range of Pedialyte offerings, now accessible in pharmacies and online retailers.
Abbott has announced a 25% increase in its quarterly common dividend, raising it to 45 cents per share. This decision reflects Abbott's strong business momentum and commitment to providing immediate value to shareholders. The upcoming dividend, marking the 388th consecutive quarterly payment since 1924, will be distributed on February 16, 2021, to shareholders on record by January 15, 2021. Abbott has maintained a remarkable 49 consecutive years of dividend increases and is listed in the S&P 500 Dividend Aristocrats Index.
Abbott's FreeStyle Libre 2 system has received approval from Health Canada for diabetes management in adults and children aged 4 and older. This innovative glucose monitoring technology includes features like real-time alarms and continuous glucose measurement every minute, sustaining performance for 14 days. It aims to improve diabetes management by providing actionable insights for users and healthcare providers, all at the same price as the original FreeStyle Libre system. The FreeStyle Libre 2 will be accessible to over 3.7 million Canadians living with diabetes.
Abbott has become the first anchor sponsor of the American Diabetes Association's Health Equity Now initiative, committing $5 million over three years. This platform aims to address health disparities faced by underserved diabetes populations. Data highlights that the risk of diabetes is significantly higher among Black Americans (77%) and Latinos (66%). Abbott will support advocacy efforts to enhance access to medical technologies and foster community engagement programs to improve health outcomes among these communities.
Abbott has launched the IonicRF™ Generator, a radiofrequency ablation device cleared by the FDA for non-surgical pain management targeting the nervous system. This is Abbott's first radiofrequency device, approved in both the U.S. and Europe. Designed to provide a tailored approach for pain relief, studies indicate the therapy can offer relief for 6-12 months. This launch helps expand Abbott's neuromodulation portfolio aimed at patients seeking alternatives to surgery and opioids.
Abbott reported third-quarter 2020 sales of $8.9 billion, reflecting a 9.6% increase from the previous year. Diluted EPS was $0.69 GAAP and $0.98 adjusted, marking a 16.7% growth. Abbott expects full-year GAAP EPS of at least $2.35 and adjusted EPS of $3.55. Notable developments include FDA Emergency Use Authorization for the BinaxNOW COVID-19 test and the launch of FreeStyle Libre 2. The company maintains a strong dividend history, recently declaring its 387th consecutive quarterly dividend.
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