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.
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Abbott has launched the IonicRF™ Generator, a radiofrequency ablation device cleared by the FDA for non-surgical pain management targeting the nervous system. This is Abbott's first radiofrequency device, approved in both the U.S. and Europe. Designed to provide a tailored approach for pain relief, studies indicate the therapy can offer relief for 6-12 months. This launch helps expand Abbott's neuromodulation portfolio aimed at patients seeking alternatives to surgery and opioids.
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Abbott reported third-quarter 2020 sales of $8.9 billion, reflecting a 9.6% increase from the previous year. Diluted EPS was $0.69 GAAP and $0.98 adjusted, marking a 16.7% growth. Abbott expects full-year GAAP EPS of at least $2.35 and adjusted EPS of $3.55. Notable developments include FDA Emergency Use Authorization for the BinaxNOW COVID-19 test and the launch of FreeStyle Libre 2. The company maintains a strong dividend history, recently declaring its 387th consecutive quarterly dividend.
Researchers from Abbott, the University of Illinois, and the U.S. Air Force have discovered a strong connection between physical fitness, cognitive performance, and optimal nutrition. In a 12-week study involving 148 U.S. Air Force personnel, participants receiving a high-protein nutritional drink exhibited improvements including an 11% boost in working memory and a 6% enhancement in reaction time. Additionally, muscle mass increased by over two pounds, and resting heart rate dropped by 8%. Abbott aims to develop future nutritional products based on these findings.
Abbott (NYSE: ABT) has received Emergency Use Authorization (EUA) from the FDA for its AdviseDx SARS-CoV-2 IgM lab-based serology test. This test, available on ARCHITECT and Alinity platforms, detects IgM antibodies to indicate recent or prior COVID-19 infections. Abbott has developed seven tests for COVID-19 since the pandemic began, including molecular and rapid antigen tests. The new test demonstrates high reliability with 99.56% specificity and 95.00% sensitivity, aiding healthcare providers in assessing patient recovery.
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.