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.
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.
Abbott has received FDA approval for its Aveir™ single-chamber (VR) leadless pacemaker, designed for patients with slow heart rhythms. This innovation, the world's only leadless pacemaker with unique mapping capability, allows physicians to assess device positioning before implantation. With a projected battery life up to twice as long as competitors, it can also be retrieved for therapy adjustments. The approval comes after successful results from the global LEADLESS II study. This device marks a significant advancement in cardiac care, minimizing complications associated with traditional pacemakers.
Abbott (NYSE: ABT) is set to announce its first-quarter 2022 financial results on April 20, 2022, before market open. A live earnings conference call will follow at 8 a.m. Central time, accessible via Abbott's Investor Relations website. Abbott is a global healthcare leader with a diverse portfolio in diagnostics, medical devices, nutritionals, and branded generic medicines, operating in over 160 countries.
Abbott's FreeStyle Libre has received expanded reimbursement coverage in Japan, now including all individuals with diabetes who inject insulin at least once daily. Effective April 1, 2022, this approval is anticipated to increase access to continuous glucose monitoring (CGM) for many patients, reducing the need for fingerstick tests. Abbott emphasizes that this expansion enhances diabetes management by providing comprehensive glucose data, ultimately aiding in better health outcomes. Experts believe this will improve patient control over diabetes and reduce complications.