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 (NYSE: ABT) generates a steady flow of news across diagnostics, medical devices, nutritionals and branded generic medicines, reflecting its role as a global healthcare company serving people in more than 160 countries. News coverage on this page highlights regulatory milestones, product launches, clinical data, corporate actions and community initiatives that shape Abbott’s business and its impact on patients.
Recent announcements include FDA approvals and clearances for cardiovascular and structural heart technologies, such as the Volt PFA System for treating atrial fibrillation and the Amplatzer Piccolo Delivery System for minimally invasive closure of patent ductus arteriosus in premature infants. Abbott also reports developments in diabetes care and metabolic health, including enhancements to its Libre app through the Libre Assist feature, which uses generative AI and continuous glucose monitoring data to help people living with diabetes understand how food choices may affect glucose levels, and the expansion of its Lingo over-the-counter continuous glucose monitor to additional mobile platforms.
Investors and observers will also find news about Abbott’s nutrition business, such as new Ensure Max Protein shakes aimed at supporting muscle health for active and older adults, as well as information on public health partnerships and community programs like the "We Give Blood" competition with the Big Ten Conference and the HeartMates community for people with heart health challenges. Corporate updates include dividend declarations and increases, as well as the announced Agreement and Plan of Merger to acquire Exact Sciences Corporation, which would expand Abbott’s presence in cancer screening and precision oncology diagnostics.
This news feed provides a centralized view of Abbott’s latest announcements, allowing readers to follow developments in its key business segments and understand how new products, regulatory events and strategic transactions may influence the company over time.
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.
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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.
Abbott's FreeStyle Libre 3 system, the latest in its glucose monitoring portfolio, has recently received FDA clearance for a standalone reader. This system is distinguished as the most prescribed integrated continuous glucose monitoring (iCGM) option in the U.S. Abbott is actively pursuing Medicare coverage for the FreeStyle Libre 3, aiming to provide affordable access for insulin-dependent beneficiaries. The new reader, which features a compact design and real-time glucose readings, is intended to enhance diabetes management, affecting over 4.5 million users worldwide. Abbott emphasizes that the FreeStyle Libre portfolio remains the leading sensor-based glucose monitoring system globally, with an emphasis on accessibility and affordability.
Abbott announced its first-quarter 2023 financial results will be revealed on April 19, 2023, before the market opens. Following the announcement, a live webcast of the earnings conference call will be held at 8 a.m. Central time. Investors can access this through Abbott's Investor Relations website. Abbott, a global healthcare leader, operates in diagnostics, medical devices, nutritionals, and branded generic medicines, employing around 115,000 people globally and serving over 160 countries.
Abbott and the Brain Injury Association of America have launched the Concussion Awareness Now campaign, aiming to educate the public on concussions and the importance of seeking medical evaluation. Despite over half of individuals suspecting a concussion not getting checked, the campaign utilizes animated characters called the Melons to engage a broad audience. A survey revealed misconceptions, with 84% of people wrongly believing that athletes are the most at risk for concussions. The initiative emphasizes that most concussions occur during everyday activities, aiming to shift public perception and prompt individuals to seek care after head injuries.
Abbott has released a new study highlighting important insights into cardiac biomarkers in transgender individuals. Conducted among 79 transgender men and 93 transgender women, the research reveals that concentrations of the biomarkers high-sensitivity cardiac troponin (hs-cTn) and N-terminal pro-brain natriuretic peptide (NT-proBNP) are influenced more by sex hormones than the sex assigned at birth. This knowledge is critical for accurate diagnoses in emergency situations, especially for transgender patients experiencing chest pain. Abbott aims to leverage these findings to enhance diverse health equity in clinical assessments.
Abbott has launched the Concussion Awareness Now campaign in partnership with the Brain Injury Association of America, aiming to raise awareness about concussions and the need for evaluation. In a coalition with nearly 20 advocacy groups, the campaign highlights that over half of individuals who suspect a concussion fail to seek medical attention. Utilizing animated characters called the Melons, the campaign addresses common scenarios where concussions occur, encouraging people to get checked. A survey revealed misconceptions around concussions, with only 3% related to sports injuries, despite 84% of respondents associating athletes with higher risks.
Abbott has emphasized its commitment to water stewardship as part of its 2030 Sustainability Plan. With global water challenges predicted to worsen, Abbott aims to achieve water stewardship certification at all high-water-impact sites in stressed areas and implement management practices at 75% of its manufacturing sites in these regions. The company has identified 24 of its global manufacturing sites as operating in water-stressed areas and is collaborating with 50 key suppliers to mitigate water risks. Abbott's proactive measures include partnerships with local communities and NGOs, with certified sites in California and Spain already making significant strides.