![]() ![]() For further information, take a look at some additional materials below:Ībbott President and CEO Robert Ford shares his thoughts on the continued importance of rapid COVID-19 tests. And in April, Abbott announced CE Mark for its next-generation TriClip device,** a minimally invasive therapy providing a new treatment option for a common heart valve issue.įor full financials and reconciliation of non-GAAP measures, you can read Abbott's press release. This includes two first-of-their-kind innovations with Abbott receiving FDA clearance for its i-STAT Alinity TBI plasma test* (the first rapid handheld objective blood test for traumatic brain injury) and FDA approval of NeuroSphere Virtual Clinic (a first-of-its-kind technology allowing patients with chronic pain or movement disorders to receive new treatment settings remotely).Ībbott also received EUA from the FDA in March for its Alinity m Resp-4-Plex test, allowing healthcare workers to detect four respiratory viruses (influenza types A and B, RSV and COVID-19) with just one swab. New approvals in the quarter have added more momentum to Abbott’s already strong portfolio of life-changing technologies.Strong Nutrition growth, of 6.4% organic (6.9% reported) was spurred by demand for Abbott's Adult Nutrition products, which had double-digit growth led by Ensure, Abbott’s market-leading nutrition brand and Glucerna, Abbott’s best-in-class diabetes nutrition product.Overall, Abbott has provided nearly 700 million COVID-19 diagnostics tests since the start of the pandemic.Įxcluding COVID-19 sales, Core Lab and Molecular Diagnostics sales had double-digit growth on an organic basis in the quarter. The test received emergency use authorization (EUA) in April from the U.S. The latest is Abbott's rapid antigen BinaxNOW COVID-19 Self Test, an over-the-counter test for people with or without symptoms, which is shipping to retailers across the U.S. Significant growth in Diagnostics, 114.8% organic (119.8% reported), was once again driven by demand for Abbott’s robust and global portfolio of rapid and lab-based COVID-19 diagnostics tests, which can be used in a variety of settings.The FreeStyle Libre system now has more than 3 million users worldwide. ![]() Leading this growth for the quarter was Diabetes Care, with $829 million in sales of Abbott's FreeStyle Libre system and Libre Sense. Strong Medical Device sales, up 8.8% organic (13.1% reported), were driven by continued recovery from the COVID-19 pandemic.These are some of the key first-quarter highlights: Given this strong quarter, Abbott is on track with its expectations for the year and well-positioned to deliver on its 2021 guidance, reflecting another year of impressive performance. This quarter also saw strong growth in Adult Nutrition, Medical Devices - led by Diabetes Care and Structural Heart - as well as increasing demand for other instruments and routine tests in Abbott's Core Lab business. While Diagnostics led Abbott's growth, driven by the company's robust portfolio of COVID-19 tests, that’s only part of the story. Abbott's ongoing earnings per share was $1.32, reflecting 103.1% growth compared to the prior year. This growth translated to worldwide sales for the quarter of $10.5 billion, up 32.9% on an organic basis (35.3% reported), excluding the impact of foreign exchange. The first quarter is a wrap and Abbott is off to a very good start with strong growth across all four of the company's major businesses. ![]()
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