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 (NYSE: ABT) announced FDA approval for an expanded indication of its CardioMEMS™ HF System, enabling monitoring for an additional 1.2 million U.S. patients with heart failure. The sensor allows for early detection of worsening conditions and can significantly reduce hospitalizations. Through clinical data from the GUIDE-HF trial, it was shown that therapy guided by the sensor can lead to a 34% reduction in heart failure hospitalizations for Class II patients.
Abbott has declared a quarterly common dividend of 47 cents per share, payable on May 16, 2022, to shareholders on record by April 15, 2022. This marks the company's 393rd consecutive quarterly dividend since 1924 and highlights its achievement of increasing dividend payouts for 50 consecutive years. Abbott is part of the S&P 500 Dividend Aristocrats Index, showcasing its stability and commitment to returning value to shareholders.
Abbott (NYSE: ABT) is voluntarily recalling powder formulas, including Similac, Alimentum, and EleCare, produced at its Sturgis, Mich., facility due to consumer complaints of contamination with Cronobacter sakazakii and Salmonella Newport. While no finished products tested positive for these bacteria, the company discovered evidence of Cronobacter sakazakii in non-product areas. The recall affects products with expiration dates of April 1, 2022, or later. Parents are advised to check their products and are not required to take action on previously consumed items.
Abbott (NYSE: ABT) has achieved a significant milestone by conducting the world's first implants of a dual-chamber leadless pacemaker, as part of its AVEIR DR i2i pivotal clinical study. This innovative device enables synchronized pacing in both heart chambers, addressing the needs of 80% of pacemaker patients. The trial, which includes up to 550 patients across multiple regions, aims to evaluate the device's clinical safety and efficacy. The dual-chamber system is designed to minimize complications associated with traditional lead pacemakers.
Abbott reported Q4 2021 sales of $11.5 billion, marking a 7.2% increase, driven by COVID-19 testing sales of $2.3 billion. For the full year, GAAP diluted EPS rose to $3.94, with adjusted EPS at $5.21, a 42.7% growth year-over-year. Abbott projects 2022 diluted EPS guidance of at least $3.43, with adjusted EPS of at least $4.70. The company also declared a quarterly dividend of $0.47 per share, continuing its 50-year dividend growth streak.
Abbott has received FDA clearance for its EnSite X EP System with EnSite Omnipolar Technology, a new cardiac mapping platform aimed at treating abnormal heart rhythms in the U.S. and Europe. The system utilizes a proprietary Advisor HD Grid Catheter to create detailed 3D maps of the heart, enhancing treatment precision for conditions such as atrial fibrillation. This innovative technology combines unipolar and bipolar measurement principles, enabling upgradable software for continuous advancements in patient care.
On January 11, 2022, ACELYRIN, INC. appointed Melanie Gloria as the new Chief Operating Officer (COO). With over 20 years in biotechnology, Gloria previously held senior roles at Abbott, AbbVie, and Horizon Therapeutics, leading R&D functions and achieving global therapy approvals. Her extensive background in drug development includes multiple therapeutic areas such as oncology and immunology. The leadership team believes Gloria's experience will enhance ACELYRIN's pursuit of life-changing treatments and support its growth strategy.
Abbott (NYSE: ABT) made history as the first healthcare company to present a keynote at CES, led by CEO Robert B. Ford. The keynote titled "Human-Powered Health" highlighted Abbott's vision of using technology to empower individuals in healthcare management. A key announcement was the development of Lingo, a new category of consumer biowearables designed to monitor various health indicators such as glucose and ketones. Abbott aims to enhance personal health management and improve athletic performance through these innovative devices.
Abbott (NYSE: ABT) will announce its fourth-quarter 2021 financial results on January 26, 2022, prior to market opening. A live webcast of the earnings call is scheduled for 8 a.m. Central and will be available on Abbott's Investor Relations website. Abbott is a global healthcare leader with a diverse portfolio in diagnostics, medical devices, nutritionals, and branded generic medicines, serving over 160 countries through its 109,000 employees.
Abbott (NYSE: ABT) announced FDA approval for expanded MRI compatibility of its Proclaim™ XR Spinal Cord Stimulation (SCS) System with Octrode™ leads. This new labeling reduces MRI restrictions, allowing lead tips to be placed anywhere on the spine and increasing radiofrequency power usage during scans. Patients will benefit from faster and higher-quality MRI scans, addressing significant challenges in imaging for those with implanted devices. This update improves access to MRI imaging for existing patients and enhances diagnoses for complex conditions.