Abbott Laboratories reports developments across a global healthcare portfolio that includes diagnostics, medical devices, nutritionals and branded generic medicines. Recurring updates cover cardiovascular technologies such as Ultreon coronary imaging, pulsed field ablation and cardiac pacing systems; diabetes and other medical devices; nutritional products; and diagnostic testing.
Abbott news also includes financial results, guidance, product clearances, clinical data presentations, commercial integrations and portfolio changes. Following the completed Exact Sciences acquisition, oncology diagnostics are a recurring theme, including Cologuard, Oncotype DX, Oncodetect, Riskguard and Cancerguard tests for cancer screening, recurrence risk and treatment support.
Abbott and Abbott Fund are responding to the devastation caused by Hurricanes Helene and Milton in the southeastern United States. Working with disaster relief partners like Feeding America, Direct Relief, Americares, and World Central Kitchen, they're providing aid to affected communities in Florida, Georgia, North Carolina, and Tennessee.
The company's proactive approach included pre-positioning 'disaster relief packs' with nutrition and medical products at food banks and health clinics. Additional donations of Ensure, PediaSure, Glucerna, Pedialyte, Similac, and diabetes care products have been made to meet immediate needs. Abbott Fund is also providing grants to support basic necessities and medical care in the aftermath of Hurricane Milton.
Abbott reported third-quarter 2024 results with sales of $10.6 billion, driven by strong underlying base business performance. Reported sales growth was 4.9%, with organic sales growth for the underlying base business at 8.2%, led by double-digit growth in Medical Devices. Abbott maintains its full-year 2024 organic sales growth guidance range of 9.5% to 10.0%, excluding COVID-19 testing-related sales. The company raised its full-year adjusted diluted EPS guidance to $4.64 to $4.70. Abbott's board authorized a new $7 billion share repurchase program. Notable developments include a partnership with Medtronic for continuous glucose monitoring, the U.S. launch of Lingo™, and completion of enrollment in the VOLT-AF IDE trial for the Volt™ Pulsed Field Ablation System.
Abbott (NYSE: ABT) announced significant progress in its pulsed field ablation (PFA) solutions for electrophysiology. The company completed enrollment ahead of schedule in the VOLT-AF IDE Study for the Volt™ PFA System and launched the global FOCALFLEX trial for the TactiFlex™ Duo Ablation Catheter, Sensor Enabled™. These studies advance two Abbott PFA catheters for treating atrial fibrillation (AFib).
Additionally, Abbott received FDA clearance for the Advisor™ HD Grid X Mapping Catheter, Sensor Enabled™, supporting mapping of PFA and radiofrequency ablation cases. The Volt PFA System pairs a balloon-in-basket catheter with Abbott's EnSite™ X EP System for improved heart mapping. The TactiFlex Duo Ablation Catheter offers both PFA and RF energy delivery with a flexible tip for precise targeting.
These advancements aim to overcome limitations of early-generation PFA systems and provide physicians with more options for treating AFib patients.
Abbott (NYSE: ABT) and the Big Ten Conference are launching 'The We Give Blood Drive', a first-of-its-kind nationwide blood donation competition among 18 Big Ten universities. The initiative aims to address the critical blood shortage in the U.S. and inspire younger donors. The competition runs from Sept. 26 to Dec. 6, 2024, with the winner announced at the Big Ten Championship Game on Dec. 7.
Key points:
- The school with the most blood donations wins a $1 million donation from Abbott for student or community health
- Participants receive a free one-month B1G+ streaming subscription and a chance to win tickets to the Big Ten Football Championship Game
- Donation totals will be tracked live at BigTen.Org/Abbott
- Abbott becomes the health sciences and diagnostics partner of the Big Ten Conference
Abbott (NYSE: ABT) has announced that it will release its third-quarter 2024 financial results on Wednesday, October 16, before the market opens. Following the announcement, the company will host a live webcast of its earnings conference call at 8 a.m. Central time (9 a.m. Eastern). Investors and interested parties can access the webcast through Abbott's Investor Relations website at www.abbottinvestor.com. For those unable to attend the live event, an archived edition of the call will be made available later the same day.
Abbott (NYSE: ABT) has declared its 403rd consecutive quarterly dividend of 55 cents per share. The dividend will be payable on Nov. 15, 2024, to shareholders of record as of Oct. 15, 2024. This announcement marks a significant milestone in Abbott's history of consistent dividend payments since 1924.
The company has demonstrated a remarkable track record of increasing its dividend payout for 52 consecutive years. This achievement has earned Abbott a place in the prestigious S&P 500 Dividend Aristocrats Index, which recognizes companies that have raised their dividends annually for at least 25 consecutive years.
Abbott's 2023 Global Sustainability Report highlights progress towards its 2030 Sustainability Plan goals, focusing on expanding health access and improving lives globally. Key achievements include:
1. Introducing the world's first dual-chamber leadless pacemaker system, expanding access to millions.
2. Partnering with mAbxience to increase access to biosimilar medicines in emerging markets.
3. Expanding emergency medicine reach to 1.3 million people in Tanzania.
4. Achieving a 7% reduction in Scope 1 and 2 carbon emissions.
5. Reducing overall water use by 3% and certifying four sites with Alliance for Water Stewardship.
6. Increasing sites with zero waste to landfill to 53 globally.
7. Doubling goals for creating development and job opportunities, including STEM programs for young people.
Abbott continues to integrate sustainability principles across its business to innovate for greater access and affordability in healthcare.
Abbott has launched Lingo™, a continuous glucose monitoring system available without prescription in the U.S. for consumers interested in improving overall health and wellness. Based on Abbott's FreeStyle Libre® technology, Lingo includes a biosensor worn on the arm for up to 14 days and a mobile app that provides real-time glucose data and personal coaching insights.
Lingo aims to help users build healthy habits, retrain their metabolism, and improve well-being by tracking glucose 24/7. The system offers features such as a glucose graph, Lingo Count™ metric, food and activity logging, personal insights, and challenges. Available for adults 18+ not on insulin, Lingo comes in three options: Learn (2 weeks), Build (4 weeks), and Transform (12 weeks), priced at $49, $89, and $249 respectively.
Abbott (NYSE: ABT) has initiated the TRANSCEND study, a pivotal clinical trial evaluating the use of its deep brain stimulation (DBS) system for treatment-resistant depression (TRD). The U.S. FDA granted Abbott Breakthrough Device designation for this research. TRD affects approximately 2.8 million Americans annually, with up to a third of major depressive disorder patients experiencing treatment resistance.
DBS works like a pacemaker, sending targeted electrical pulses to specific brain areas to relieve symptoms. Previous open-label studies have shown at least a 50% sustained improvement in depression symptoms for three out of four people over two to eight years. The TRANSCEND study aims to gather evidence on the impact of neurostimulation for TRD patients who have not responded to conventional treatments.
Abbott (NYSE: ABT) has expanded its Pure Bliss™ by Similac® line of infant formulas to include organic and European-made products. The new offerings include:
- Pure Bliss Organic: USDA-certified organic formula available in powder and liquid forms
- Pure Bliss Organic with A2 Milk: USDA-certified organic formula using milk from select cows producing A2 beta-casein protein
- Pure Bliss Irish Farms: Made in Ireland with fresh milk from Irish cows
Notably, Pure Bliss Organic in 2-fluid ounce ready-to-feed bottles is the only USDA-certified organic liquid infant formula available in select U.S. retail stores. These products aim to meet diverse parental preferences for infant nutrition, offering options that are organic, European-made, and easy to digest. The expanded line is available at Amazon, Target, and Walmart.