Welcome to our dedicated page for Abbott Labs news (Ticker: ABT), a resource for investors and traders seeking the latest updates and insights on Abbott Labs stock.
Abbott Laboratories (ABT) is a global healthcare leader driving innovations in medical devices, diagnostics, nutrition, and branded generics. This page provides investors and industry professionals with timely updates on the company’s latest developments, strategic initiatives, and regulatory milestones.
Access Abbott’s official press releases alongside curated analysis of key events impacting its diversified business segments. Track updates across diabetes care technologies, cardiovascular device approvals, diagnostic system launches, and nutritional product expansions. Our repository ensures you stay informed about earnings announcements, partnership agreements, and clinical trial outcomes without speculative commentary.
Bookmark this page for streamlined access to Abbott’s evolving market position and evidence-based insights into its global healthcare solutions. Check regularly for verified updates that matter to your investment research or industry analysis.
Abbott (NYSE: ABT) has received two clearances from the FDA for its CentriMag™ life support system, enhancing its capabilities in critical care. The CentriMag Blood Pump can now provide prolonged life support beyond six hours, allowing physicians more time to make crucial care decisions for patients requiring ECMO due to severe heart and lung conditions. Additionally, the CentriMag Pre-connected Pack has been cleared for use in urgent situations lasting under six hours, enabling quicker deployment in critical care settings. These advancements aim to streamline medical procedures and improve patient outcomes, particularly during emergencies or after significant surgeries.
Abbott (NYSE: ABT) reported Q1 2023 sales of $9.7 billion, an 18.1% decline compared to the previous year, primarily due to reduced COVID-19 testing sales. However, organic sales growth for the underlying business was strong at 10.0%, driven by Medical Devices, Established Pharmaceuticals, and Nutrition sectors. GAAP diluted EPS was $0.75 and adjusted diluted EPS was $1.03. Abbott's full-year 2023 diluted EPS guidance remains between $3.05 to $3.25. Notably, the company expects COVID-19 testing-related sales to reach approximately $1.5 billion. Recent FDA approvals for new products in heart valve implantation and diabetes monitoring were highlighted as significant advancements.
Abbott has announced that Medicare has expanded access to its FreeStyle Libre continuous glucose monitoring systems for insulin-using beneficiaries. This change eliminates the previous requirement for multiple daily insulin injections. Eligible recipients include those with problematic hypoglycemia. Abbott is also working to add the latest FreeStyle Libre 3 system to Medicare's coverage list. With nearly 11 million adults over 65 living with diabetes in the U.S., this expansion could benefit over 2 million Medicare beneficiaries using insulin. The FreeStyle Libre systems are noted as the most prescribed CGM by doctors for Medicare patients, enhancing access to crucial diabetes management technologies.
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