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.
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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.