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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 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.
Researchers from Abbott, the University of Illinois, and the U.S. Air Force have discovered a strong connection between physical fitness, cognitive performance, and optimal nutrition. In a 12-week study involving 148 U.S. Air Force personnel, participants receiving a high-protein nutritional drink exhibited improvements including an 11% boost in working memory and a 6% enhancement in reaction time. Additionally, muscle mass increased by over two pounds, and resting heart rate dropped by 8%. Abbott aims to develop future nutritional products based on these findings.
Abbott (NYSE: ABT) has received Emergency Use Authorization (EUA) from the FDA for its AdviseDx SARS-CoV-2 IgM lab-based serology test. This test, available on ARCHITECT and Alinity platforms, detects IgM antibodies to indicate recent or prior COVID-19 infections. Abbott has developed seven tests for COVID-19 since the pandemic began, including molecular and rapid antigen tests. The new test demonstrates high reliability with 99.56% specificity and 95.00% sensitivity, aiding healthcare providers in assessing patient recovery.
Abbott has released interim clinical data on its ID NOW COVID-19 rapid test, confirming previous FDA submissions for Emergency Use Authorization. The study involved 1,003 participants and demonstrated an overall performance of 93.3% positive agreement and 98.4% negative agreement to lab-based PCR tests. High-performance metrics were noted, particularly in symptomatic patients within seven days post-symptom onset. The study reaffirms the critical role of rapid testing in pandemic management, positioning ID NOW as a reliable tool for identifying COVID-19 infections.
Abbott (NYSE: ABT) has received CE Mark approval for its FreeStyle Libre 3 system, enabling its use for diabetes management in Europe. This next-generation glucose monitoring system offers real-time glucose readings every minute via a smartphone, boasting a 14-day accuracy in a compact design. The FreeStyle Libre 3 sensor, priced similarly to previous models, aims to enhance accessibility while reducing environmental impact with a significant decrease in plastic and carton use. This system is expected to continue Abbott's legacy of improving diabetes care and reducing healthcare costs.
Abbott (NYSE: ABT) has received CE Mark approval for its fourth-generation MitraClip™ Transcatheter Mitral Valve Repair System, enhancing treatment options for mitral regurgitation (MR) in Europe. The MitraClip G4 improves upon previous models with advanced steering, a variety of clip sizes, and independently controlled grippers. This system, already approved in the U.S., offers a less invasive alternative to open-heart surgery for patients unable to undergo conventional procedures. Notably, over 100,000 patients have been treated globally, showcasing its clinical success and impact on patient outcomes.
Abbott (NYSE: ABT) will report its third-quarter 2020 financial results on Oct. 21, 2020, before market opening. This announcement will be followed by a live webcast of the earnings call at 8 a.m. Central time. The live event will be accessible via Abbott's Investor Relations website, with an archived version available later the same day. Abbott is a global leader in healthcare, serving over 160 countries with its diverse portfolio spanning diagnostics, medical devices, nutrition, and branded generic medicines.
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