Abbott Labs Stock Price, News & Analysis

Abbott (NYSE: ABT) has launched a groundbreaking trial called TAP-CHF, aimed at improving treatment for patients with both atrial fibrillation (AFib) and heart failure. This trial addresses the challenges of managing these coexisting conditions, which can lead to increased risk of stroke and hospitalization. By enrolling up to 100 patients across 10 sites, the trial will evaluate the effectiveness of novel monitoring techniques and treatment strategies. Abbott seeks to enhance patient outcomes through innovative therapies, aiming to provide critical insights into the management of complex cardiovascular diseases.

Abbott reported strong first-quarter 2021 financial results, with sales of $10.5 billion, reflecting a 35.3% increase year-on-year. GAAP diluted EPS was $1.00, while adjusted diluted EPS grew 103.1% to $1.32. The company anticipates full-year diluted EPS of at least $3.74, maintaining a forecast for adjusted EPS of at least $5.00. COVID-19 testing contributed $2.2 billion to sales, and recent product launches are driving growth. Abbott declared its 389th consecutive quarterly dividend, highlighting its consistent dividend growth.

Abbott (NYSE: ABT) has initiated shipments of its BinaxNOW™ COVID-19 Ag Self Test to retailers nationwide, with availability expected soon at CVS, Walgreens, and Walmart. This over-the-counter test, priced at $23.99 for a two-count pack, aims to provide affordable, accessible testing. Abbott plans to produce tens of millions of tests monthly and can adapt distribution based on regional virus surges. The BinaxNOW Self Test is designed for both symptomatic and asymptomatic individuals and has received FDA Emergency Use Authorization for home testing.

Abbott (NYSE: ABT) partners with marathon runner Eliud Kipchoge and the NN Running Team to enhance athletic training using Abbott's Libre Sense Glucose Sport Biosensor. The biosensor, which monitors glucose levels in real-time, will be utilized in the NN Mission Marathon on April 18, 2021, a qualifying race for the Olympics. Kipchoge emphasizes its potential to improve performance through personalized nutrition insights. CE Marked since September 2020, the biosensor aims to make glucose monitoring commonplace among athletes, promoting optimal training and competitive advantage.

Abbott (NYSE: ABT) announced the CE Mark approval for its TriClip™ Transcatheter Tricuspid Valve Repair System, addressing tricuspid regurgitation (TR) with a minimally invasive solution. This next-generation device is designed for tailored repairs, improving treatment for patients unfit for open-heart surgery. With data from the TRILUMINATE study showing symptomatic improvements, TriClip G4 enhances cardiologists' ability to treat TR. Additionally, it received Health Canada approval, expanding access to this innovative therapy worldwide.

Abbott (NYSE: ABT) announced that its XIENCE stent has received CE Mark approval in Europe for a shorter duration of dual anti-platelet therapy (DAPT) of just 28 days, aimed at patients with high bleeding risk (HBR). This marks the shortest DAPT indication globally. Recent studies showed that one-month or three-month DAPT followed by aspirin monotherapy is safe for HBR patients. The findings reinforce the XIENCE stent's safety profile, showing no increase in cardiac events while significantly reducing severe bleeding, and Abbott is pursuing U.S. approval for the same indication.

Abbott has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Self Test for asymptomatic, over-the-counter use. This allows individuals to access the test without a prescription, targeting a broader audience including children as young as two. Abbott plans to distribute the test through major retailers, emphasizing its affordability for regular and event-specific testing. The test provides results in 15 minutes and has demonstrated high performance metrics, including 84.6% sensitivity and 98.5% specificity, benefiting from Abbott's extensive manufacturing capabilities.

Abbott will announce its first-quarter 2021 financial results on April 20, 2021, before the market opens. A live webcast of the earnings conference call will follow at 8:30 a.m. CT. The event will be accessible on Abbott's Investor Relations website. Abbott, a global healthcare leader, provides a range of healthcare solutions, employing around 109,000 colleagues in over 160 countries. For further details, visit their official website.

Abbott has established the Abbott Pandemic Defense Coalition, a global partnership aimed at early detection and rapid response to pandemic threats. This innovative coalition connects global testing centers to identify new viruses, assess risks, and develop diagnostics swiftly. The initiative emerged from lessons learned during the COVID-19 pandemic and builds on Abbott's three-decade experience in viral surveillance. The coalition includes collaborations with various international institutions for effective monitoring and response to emerging health threats.