Abbott Labs Stock Price, News & Analysis

Abbott has received FDA clearance for its Alinity™ m STI Assay, a multiplex test capable of detecting four sexually transmitted infections (STIs) simultaneously: Chlamydia, Gonorrhea, Trichomonas, and Mycoplasma. The test addresses rising STI rates exacerbated by pandemic-related disruptions in routine testing. Utilizing the advanced Alinity m system, this test enhances efficiency in diagnosis and treatment for healthcare providers. Abbott aims to improve accessibility to STI testing, reflecting on the changes in healthcare delivery during the pandemic.

Abbott (NYSE: ABT) is releasing limited quantities of metabolic nutrition formulas at the U.S. FDA's request, following a recall of some infant formulas. The released products were not part of the February recall and have met safety standards. Patients can obtain these formulas through healthcare providers and referrals. Abbott's Sturgis facility remains under scrutiny, but no link has been found between it and reported infant illnesses. The company is working with the FDA to resume operations, with new production expected in six to eight weeks.

Abbott's PERSIST-END study revealed that 89% of patients with persistent atrial fibrillation (AFib) treated with the TactiCath™ Contact Force Ablation Catheter remained symptom-free for up to 15 months. The study, involving 224 patients, showed significant improvements in quality of life scores and a 53% reduction in healthcare resource utilization post-procedure. Conducted from 2018-2021, the trial met its primary safety and efficacy endpoints, indicating TactiCath SE's effectiveness in managing persistent AFib and enhancing patient outcomes.

Abbott (NYSE: ABT) has launched the Amplatzer™ Steerable Delivery Sheath in the U.S. to assist in sealing the left atrial appendage (LAA) for patients with atrial fibrillation at risk of stroke. This first-of-its-kind system enhances precision and flexibility during procedures using the Amplatzer Amulet™ LAA Occluder, which aims to reduce stroke risk without long-term blood-thinning medications. The sheath features bi-directional steering, an auto-lock function, and a valve to stabilize blood flow, reinforcing Abbott's commitment to innovation in structural heart therapies.

Abbott (NYSE: ABT) announced results from a meta-analysis of 75 studies indicating its FreeStyle Libre system significantly reduces glycated hemoglobin (HbA1c) in adults with type 1 and type 2 diabetes. After three months, HbA1c levels decreased by 0.53% for type 1 and 0.45% for type 2 diabetes, with reductions sustained for up to 24 months for type 1 and 12 months for type 2. The findings highlight the importance of access to glucose monitoring technology for insulin-using individuals with type 2 diabetes, as it provides similar benefits to those with type 1.

On April 27, 2022, Abbott, CamDiab, and Ypsomed announced a partnership to develop an integrated automated insulin delivery (AID) system targeting diabetes management. This innovative system will combine Abbott's FreeStyle Libre 3 sensor, CamDiab's CamAPS FX algorithm, and Ypsomed's mylife YpsoPump. By enhancing glucose monitoring and insulin delivery, the trio aims to improve health outcomes for diabetes patients, particularly in Europe. Development is expected to conclude by the end of 2022, with commercialization anticipated to follow shortly after.

Abbott (NYSE: ABT) announced its rejection of an unsolicited mini-tender offer by TRC Capital Investment Corporation to buy up to 1,000,000 shares at $112.38 each, which is about 4.5% below Abbott's closing price of $117.69 on April 14, 2022. Abbott advises shareholders not to tender their shares, emphasizing the offer price is significantly lower than market value. Shareholders are encouraged to consult with financial advisors and take caution regarding TRC's offer, which is set to expire on May 17, 2022. Abbott is not associated with TRC and urges the withdrawal of any shares tendered.

Abbott has launched an upgraded version of its NeuroSphere myPath digital health app, enhancing its functionality for tracking pain relief during treatment with neurostimulation devices. Available for both Apple and Android, the app facilitates better communication between doctors and patients, enabling a shared view of patient-reported outcomes. Chronic pain affects over 50 million Americans, and the app aims to personalize treatment by allowing patients to document pain levels and overall well-being throughout their therapy journey.

Abbott reported Q1 2022 sales of $11.9 billion, reflecting a 13.8% increase year-over-year, with organic growth at 17.5%. COVID-19 testing-related sales reached $3.3 billion. Excluding these, reported sales grew 3.9%, and organic sales grew 7.7%. GAAP diluted EPS rose by 37.0% to $1.37, while adjusted EPS grew 31.1% to $1.73. Notable developments include FDA approvals for new products, although Nutrition sales decreased, impacted by a voluntary recall.