Abbott Labs Stock Price, News & Analysis

Abbott (NYSE: ABT) is set to launch the NeuroSphere myPath, a digital health app aimed at chronic pain management. The app enables patients undergoing spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy to track pain relief and overall well-being during the trial period. It allows patients to connect with Abbott support, access educational resources, and report their progress directly from their Apple devices. The app reinforces Abbott's commitment to enhancing patient care through digital innovation and will soon be available on Android devices.

Abbott (NYSE: ABT) has successfully fulfilled a federal order for 150 million BinaxNOW COVID-19 Ag tests, distributing them to various entities, including nursing homes and universities. The company is ramping up U.S. manufacturing, allowing the availability of tens of millions of tests monthly for direct purchase. The University of Wisconsin System will procure 480,000 tests for its campuses. Priced at $5 per test, BinaxNOW results are available in just 15 minutes, making it the most widely available rapid test in the U.S. Abbott will continue supplying HHS with 30 million tests until March 2021.

Abbott has received 510(k) clearance for the first rapid handheld blood test to assess traumatic brain injuries (TBI), including concussions. This test, running on the i-STAT™ Alinity™ platform, provides results within 15 minutes. It measures specific proteins in the blood, helping to rule out the need for CT scans in negative cases. With a sensitivity of 95.8% and over 99% negative predictive value, the test aims to improve diagnosis rates as around 5 million TBIs are reported annually in the U.S. Abbott is also developing a whole blood version for on-site use.

Abbott will report its fourth-quarter 2020 financial results on January 27, 2021, before the market opens. The earnings conference call will start at 8 a.m. Central time and will be available via Abbott's Investor Relations website. Abbott is a global healthcare leader with a diverse portfolio in diagnostics, medical devices, and nutritionals, employing over 107,000 colleagues across 160 countries.

On December 22, 2020, Abbott released survey findings indicating that 82% of Americans believe COVID-19 vaccine rollout will be more effective when combined with testing. The survey, conducted by The Harris Poll, highlights that 73% feel vaccines need other precautionary measures to effectively combat the pandemic. Additionally, 86% say testing remains crucial while waiting for widespread vaccine access. Abbott has launched eight COVID-19 tests and delivered over 300 million tests globally. The company emphasizes the importance of continued testing alongside vaccination efforts to control the virus.

Abbott will participate in the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 12, 2021. The presentation will be led by CEO Robert B. Ford at 9 a.m. Central Time. Interested parties can access a live webcast through Abbott's Investor Relations website, with an archived version available the following day. Abbott is a global healthcare leader dedicated to improving lives through innovative products across diagnostics, medical devices, nutritionals, and generic medicines.

Abbott has received FDA approval for updated labeling of its HeartMate 3 heart pump, allowing its use in pediatric patients with advanced refractory left ventricular heart failure. This provides new treatment options for children awaiting heart transplants or ineligible for them. The pump, already approved for adults, boasts a 79% survival rate at two years in trials. The updated use is supported by data from the ACTION Learning Collaborative, highlighting Abbott's commitment to improving outcomes for pediatric heart failure patients.

Abbott (NYSE: ABT) has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card, allowing at-home testing with results in minutes. Priced at $25, this test is among the most affordable. Partnering with eMed™, Abbott aims to deliver 30 million tests in Q1 2021 and 90 million in Q2. The test boasts a 91.7% sensitivity and 100% specificity in early symptom cases. This innovation is crucial for increasing access to rapid testing, especially for vulnerable populations, and helps manage the ongoing COVID-19 pandemic.

Abbott has received the CE Mark for its new quantitative SARS-CoV-2 IgG antibody test, enhancing its COVID-19 testing portfolio. This lab-based serology test quantitatively measures IgG levels, providing insights into an individual's immune response to the virus and vaccines. The test boasts high specificity (99.60%) and sensitivity (99.35%) when conducted 15 days after symptoms appear. Abbott plans to seek FDA emergency use authorization for this test as part of its ongoing commitment to support global healthcare in combating COVID-19.