Abbott Labs - ABT STOCK NEWS

Abbott has released interim clinical data on its ID NOW COVID-19 rapid test, confirming previous FDA submissions for Emergency Use Authorization. The study involved 1,003 participants and demonstrated an overall performance of 93.3% positive agreement and 98.4% negative agreement to lab-based PCR tests. High-performance metrics were noted, particularly in symptomatic patients within seven days post-symptom onset. The study reaffirms the critical role of rapid testing in pandemic management, positioning ID NOW as a reliable tool for identifying COVID-19 infections.

Abbott (NYSE: ABT) has received CE Mark approval for its FreeStyle Libre 3 system, enabling its use for diabetes management in Europe. This next-generation glucose monitoring system offers real-time glucose readings every minute via a smartphone, boasting a 14-day accuracy in a compact design. The FreeStyle Libre 3 sensor, priced similarly to previous models, aims to enhance accessibility while reducing environmental impact with a significant decrease in plastic and carton use. This system is expected to continue Abbott's legacy of improving diabetes care and reducing healthcare costs.

Abbott (NYSE: ABT) has received CE Mark approval for its fourth-generation MitraClip™ Transcatheter Mitral Valve Repair System, enhancing treatment options for mitral regurgitation (MR) in Europe. The MitraClip G4 improves upon previous models with advanced steering, a variety of clip sizes, and independently controlled grippers. This system, already approved in the U.S., offers a less invasive alternative to open-heart surgery for patients unable to undergo conventional procedures. Notably, over 100,000 patients have been treated globally, showcasing its clinical success and impact on patient outcomes.

Abbott (NYSE: ABT) will report its third-quarter 2020 financial results on Oct. 21, 2020, before market opening. This announcement will be followed by a live webcast of the earnings call at 8 a.m. Central time. The live event will be accessible via Abbott's Investor Relations website, with an archived version available later the same day. Abbott is a global leader in healthcare, serving over 160 countries with its diverse portfolio spanning diagnostics, medical devices, nutrition, and branded generic medicines.

Abbott's board has declared a quarterly dividend of 36 cents per share, marking the 387th consecutive quarterly dividend since 1924. The cash dividend is payable on Nov. 16, 2020, to shareholders of record by Oct. 15, 2020. Abbott has increased its dividend payout for 48 consecutive years and is listed in the S&P 500 Dividend Aristocrats Index, highlighting its consistency in dividend payments.

Abbott (NYSE: ABT) has launched the world’s first glucose sport biosensor, the Libre Sense, designed specifically for athletes to monitor glucose levels in real-time. This innovative product, derived from Abbott’s FreeStyle Libre technology, allows athletes aged 16 and older to optimize their nutrition during sports activities like cycling and running. The biosensor provides continuous streaming data via a mobile app and can be worn for up to 14 days. Initially available in eight European countries, this product aims to enhance athletic performance by helping users manage energy levels effectively.

Abbott (NYSE: ABT) announced the initiation of the LIFE-BTK clinical trial, the first U.S. Investigational Device Exemption trial for a fully resorbable device targeting critical limb ischemia (CLI) in patients with advanced peripheral artery disease (PAD). The Esprit BTK Everolimus Eluting Resorbable Scaffold System aims to improve treatment outcomes by reducing the chance of artery re-narrowing. The FDA granted breakthrough device designation to this technology, which will be assessed for safety and efficacy in 225 patients globally. This trial could mark significant progress in treating PAD.

Abbott (NYSE: ABT) has announced the availability of its FreeStyle Libre 2 continuous glucose monitoring system to Medicare patients. This next-generation system has received approval from the U.S. Centers for Medicare & Medicaid Services for coverage, allowing eligible individuals with diabetes to access this life-changing technology. The FreeStyle Libre 2 sensor is easy to apply, lasts 14 days, and provides real-time glucose readings. Abbott aims to enhance access and affordability for all patients, making it the #1 sensor-based glucose monitoring system in the U.S.

Abbott (NYSE: ABT) has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card, a rapid test priced at $5 that delivers results in 15 minutes. This portable test enhances mass testing capabilities and relies on proven lateral flow technology. A complementary mobile app, NAVICA™, will allow users to display their test results digitally. Abbott plans to ramp up production to 50 million tests per month by October, contributing significantly to national testing efforts amid the pandemic.