Abbott Labs Stock Price, News & Analysis

Abbott (NYSE: ABT) is set to release its second-quarter 2024 financial results on Thursday, July 18, before the market opens.

The company will host a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), which will be accessible on Abbott's Investor Relations website.

An archived edition of the call will also be available later the same day.

Abbott's 2023 Global Sustainability Report highlights the company's progress towards its 2030 Sustainability Plan goals. The report focuses on improving global health access and equity, reducing environmental impact, and fostering workforce development.

Key achievements include the introduction of the AVEIR DR leadless pacemaker, collaborations to expand biosimilar medicines in emerging markets, and emergency medicine initiatives in Tanzania. Environmental efforts saw a 7% reduction in emissions, a 3% decrease in water use, and high waste diversion rates. Workforce initiatives aim to double the targets for job opportunities and STEM training by 2030.

For detailed information, readers are encouraged to review the full report.

Abbott and the National Association of Community Health Centers (NACHC) have launched the second year of the Innovation Incubator initiative to improve access to nutritious food in underinvested communities. Eight health centers across the U.S. will receive $30,000 each to develop and test innovative solutions aimed at integrating healthy food into clinical care. These centers will focus on addressing chronic conditions like obesity, diabetes, and heart disease through nutrition. The results will be shared with 1,400 health centers, benefiting over 31 million patients. Projects range from creating community gardens to providing customized nutrition for expectant mothers and individuals with chronic diseases. This initiative builds on the success of the 2023 program, which focused on digital health literacy and reached more than 45,000 people.

Abbott (NYSE: ABT) has declared its 402nd consecutive quarterly dividend of 55 cents per share, continuing a tradition since 1924. The payment is scheduled for August 15, 2024, to shareholders on record by July 15, 2024. Abbott has consistently increased its dividend for 52 years, securing its membership in the S&P 500 Dividend Aristocrats Index, which includes companies that have raised dividends annually for at least 25 years.

A new wave of health wearables, called biowearables, provides real-time glucose monitoring through technology that connects directly with the body. Abbott's biowearables, including the newly FDA-cleared Lingo and Libre Rio, offer continuous insights into glucose levels via a smartphone app. This allows users to make informed health decisions in real-time, aiding in energy management, weight loss, and diabetes care. Elite athletes like Eliud Kipchoge have successfully used these devices, highlighting their efficacy. Initially developed for diabetes management with FreeStyle Libre, used by 6 million people globally, biowearables are now accessible to a broader audience for overall health and wellness.

Abbott (NYSE: ABT) announced FDA clearance for two over-the-counter continuous glucose monitoring systems, Lingo™ and Libre Rio™. These systems are based on Abbott's FreeStyle Libre® technology. Lingo is aimed at general consumers wanting to improve their health by tracking glucose levels, offering personalized insights and coaching. Libre Rio is designed for adults with Type 2 diabetes who manage their condition through lifestyle changes, providing a measurement range of 40-400 mg/dL. This move aims to make glucose monitoring more accessible, potentially improving health outcomes and quality of life for a broader population.

Cadrenal Therapeutics (Nasdaq: CVKD) has presented new data from the ARIES-HM3 trial at the ISHLT conference, showing the significant impact of anticoagulation quality in LVAD patients. The trial highlighted the deficiencies of warfarin and introduced tecarfarin, a novel VKA, as a potential replacement. Tecarfarin has received Orphan Drug Designation from the FDA for preventing thromboembolism in patients with mechanical circulatory support devices like LVADs.

The ARIES-HM3 data indicates a direct correlation between lower therapeutic range times (TTR) and higher bleeding events. The average patient experienced a 30% rate of serious bleeding even without aspirin in the regimen. Incremental improvements in TTR corresponded to significant reductions in bleeding rates, emphasizing the potential of tecarfarin to provide more stable anticoagulation compared to warfarin.

The data is under FDA review, and Cadrenal plans to pursue further pivotal trials to validate tecarfarin's effectiveness for LVAD patients.

Abbott has received FDA approval for the Esprit BTK Everolimus Eluting Resorbable Scaffold System, a dissolving stent for arteries below the knee. This breakthrough technology provides a new treatment option for people with chronic limb-threatening ischemia (CLTI) and peripheral artery disease (PAD). The system offers better outcomes compared to balloon angioplasty, which was the previous standard of care. The LIFE-BTK trial demonstrated that the Esprit BTK System reduces disease progression and improves medical outcomes. This innovation addresses the significant burden of disease and treatment options for patients with severe PAD.