Welcome to our dedicated page for Abbott Labs news (Ticker: ABT), a resource for investors and traders seeking the latest updates and insights on Abbott Labs stock.
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 has received FDA Emergency Use Authorization (EUA) for its Alinity™ m Resp-4-Plex assay, enabling simultaneous detection of SARS-CoV-2, influenza A, influenza B, and RSV. This assay utilizes a single swab and offers fast, efficient diagnosis crucial for effective treatment. Additionally, the EUA for Abbott's SARS-CoV-2 test includes asymptomatic cases and allows the pooling of samples. The Alinity m system enhances laboratory efficiency, supporting healthcare workers in managing respiratory viral infections during the pandemic.
Abbott has discovered a significant population of HIV elite controllers in the Democratic Republic of Congo (DRC), where 2.7-4.3% of individuals test positive for HIV antibodies yet have low to non-detectable viral loads without antiretroviral treatment. This research, published in EBioMedicine, may aid in developing new HIV treatments and vaccines. The findings highlight an unusual physiological phenomenon in the DRC and continue Abbott's commitment to HIV research through its Global Viral Surveillance Program, which has been operational for over 25 years.
Abbott's board of directors declared a quarterly common dividend of 45 cents per share, marking the 389th consecutive quarterly dividend since 1924. This dividend is payable on May 17, 2021, to shareholders of record by April 15, 2021. Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index.
The global infant nutrition market is projected to grow at a CAGR of 7.7%, reaching $61.6 billion by 2026. This growth is driven by a rising population of working mothers seeking convenient nutrition options. Companies like Else Nutrition (TSXV:BABY), Kraft Heinz Co (NASDAQ:KHC), Abbott Laboratories (NYSE:ABT), Danone (OTCQX:DANOY), and Walmart (NYSE:WMT) are capitalizing on this trend. Notably, Else Nutrition has launched a plant-based formula and expanded its distribution in North America through major retailers.
Abbott reported Q4 2020 sales of $10.7 billion, marking a 28.7% increase from the previous year. GAAP diluted EPS reached $1.20, with adjusted diluted EPS at $1.45, up 52.6%. The company expects 2021 diluted EPS to be at least $3.74, with adjusted EPS projected at $5.00, reflecting over 35% growth. COVID-19 testing drove $2.4 billion in sales, primarily through rapid tests. Abbott increased its dividend by 25% to $0.45 per share, continuing a 49-year streak of annual increases.
Abbott has received CE Mark approval for two new uses of its Panbio COVID-19 Ag Rapid Test Device: for asymptomatic testing and self-swabbing. This enables mass testing of asymptomatic individuals, crucial as they represent up to 50% of COVID-19 infections. Abbott has shipped 200 million tests globally and is pursuing FDA approval for similar indications in the U.S. The updates aim to facilitate safer returns to work, school, and travel, leveraging rapidly conducted screenings to support public health.
Abbott (NYSE: ABT) has announced that the U.S. Centers for Medicare & Medicaid Services (CMS) has revised its National Coverage Determination to expand insurance coverage for the MitraClip device, now including patients with secondary mitral regurgitation (MR) due to heart failure. This decision significantly broadens access to treatment for an estimated 4 million Americans suffering from MR, particularly benefiting older patients reliant on Medicare. The revision follows clinical data showing high MR reduction rates with MitraClip, improving the quality of life and survival rates for eligible patients.
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.