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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's board has declared a quarterly dividend of 36 cents per share, marking the 387th consecutive quarterly dividend since 1924. The cash dividend is payable on Nov. 16, 2020, to shareholders of record by Oct. 15, 2020. Abbott has increased its dividend payout for 48 consecutive years and is listed in the S&P 500 Dividend Aristocrats Index, highlighting its consistency in dividend payments.
Abbott (NYSE: ABT) has launched the world’s first glucose sport biosensor, the Libre Sense, designed specifically for athletes to monitor glucose levels in real-time. This innovative product, derived from Abbott’s FreeStyle Libre technology, allows athletes aged 16 and older to optimize their nutrition during sports activities like cycling and running. The biosensor provides continuous streaming data via a mobile app and can be worn for up to 14 days. Initially available in eight European countries, this product aims to enhance athletic performance by helping users manage energy levels effectively.
Abbott (NYSE: ABT) announced the initiation of the LIFE-BTK clinical trial, the first U.S. Investigational Device Exemption trial for a fully resorbable device targeting critical limb ischemia (CLI) in patients with advanced peripheral artery disease (PAD). The Esprit BTK Everolimus Eluting Resorbable Scaffold System aims to improve treatment outcomes by reducing the chance of artery re-narrowing. The FDA granted breakthrough device designation to this technology, which will be assessed for safety and efficacy in 225 patients globally. This trial could mark significant progress in treating PAD.
Abbott (NYSE: ABT) has announced the availability of its FreeStyle Libre 2 continuous glucose monitoring system to Medicare patients. This next-generation system has received approval from the U.S. Centers for Medicare & Medicaid Services for coverage, allowing eligible individuals with diabetes to access this life-changing technology. The FreeStyle Libre 2 sensor is easy to apply, lasts 14 days, and provides real-time glucose readings. Abbott aims to enhance access and affordability for all patients, making it the #1 sensor-based glucose monitoring system in the U.S.
Abbott (NYSE: ABT) has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card, a rapid test priced at $5 that delivers results in 15 minutes. This portable test enhances mass testing capabilities and relies on proven lateral flow technology. A complementary mobile app, NAVICA™, will allow users to display their test results digitally. Abbott plans to ramp up production to 50 million tests per month by October, contributing significantly to national testing efforts amid the pandemic.
Abbott (NYSE: ABT) has commenced the TactiFlex PAF IDE study to evaluate its investigational TactiFlex Ablation Catheter for treating paroxysmal atrial fibrillation (PAF). With over 16 million individuals affected by AFib globally, the study aims to enroll 355 patients across multiple sites worldwide. The catheter employs contact force technology for enhanced procedural effectiveness. Presently, the device is under clinical evaluation and not yet commercially available, aligning with Abbott's commitment to providing advanced medical solutions for improving patient care.
Abbott has received FDA approval for its Patient Controller app, enabling users with neurological conditions to manage therapy via personal Apple smartphones. This integration aims to enhance the patient experience by eliminating the need for separate devices and facilitating remote therapy management, particularly crucial during the COVID-19 pandemic. The app will be compatible with Abbott's neuromodulation technologies, offering convenience for patients with chronic pain and movement disorders. The rollout is expected in the coming weeks, aligning with Abbott's commitment to advancing digital healthcare solutions.
Abbott reported Q2 2020 sales of $7.3 billion, down 8.2% reported and 5.4% organic. Diluted EPS was $0.30 GAAP and $0.57 adjusted. For 2020, Abbott projects full-year diluted EPS of at least $2.00 GAAP and $3.25 adjusted. Key approvals include the TriClip™ heart valve repair device and FreeStyle® Libre 2 for diabetes monitoring. Notably, Nutrition sales grew 3.1% organically due to strong performance in Adult Nutrition, while Diagnostics surged 23.2%, driven by COVID-19 testing. However, Medical Devices showed a 29% decline.
Abbott (NYSE: ABT) announced a settlement with Edwards Lifesciences Corporation to resolve all patent disputes related to transcatheter mitral and tricuspid repair products. The agreement dismisses all ongoing cases and prohibits future litigation in this field for ten years. Abbott will receive a one-time payment and ongoing payments based on Pascal sales through 2025, plus a potential milestone payment in 2026. This resolution lifts injunctions against Edwards' sales of their repair systems, allowing both companies to focus on business growth.
Abbott (NYSE: ABT) announced on June 26, 2020, that its LightLab Initiative revealed optical coherence tomography (OCT) significantly influences treatment decisions in coronary artery blockages. The study showed that 88% of physicians altered their treatment strategies based on OCT imaging, which provides high-resolution images and detailed insights into arteries. The initial data involved 2,203 procedures across 12 medical centers, emphasizing OCT's value over traditional angiography in procedural planning and patient care.
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