MedTech Dive July 18, 2024
Electrophysiology sales held up against rivals’ launches of pulsed field ablation systems. Meanwhile, Abbott is gauging sales of its first OTC CGMs.
Abbott raised its sales and earnings forecasts for 2024 on Thursday after a better-than-expected second quarter, driven by growth in its medical devices business.
Medical device sales grew by 10.2% to $4.73 billion, with Abbott’s electrophysiology, structural heart and diabetes segments standing out in the quarter. Abbott reported the results on a second-quarter earnings call.
Stifel analyst Rick Wise wrote in a research note that the medical device growth and “‘positive momentum’ commentary” is a “positive sign for MedTech broadly.” Johnson & Johnson, which is often used as a bellwether for medtech earnings, fell short of growth...
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