MedTech Dive January 26, 2022
Greg Slabodkin

Dive Brief:

  • Abbott Laboratories on Wednesday reported fourth-quarter sales of $11.5 billion, a 7.7% increase on an organic basis from a year ago, driven by a surge in demand for COVID-19 tests and gains in its base business.
  • CEO Robert Ford told investors on Wednesday’s earnings call that demand for rapid tests has jumped, particularly in the U.S. as the omicron variant spread, and that Abbott delivered approximately 300 million diagnostics in the fourth quarter. Global COVID-19 testing-related sales were $2.3 billion in the three-month period. That’s above the consensus range of $1.2 billion to $1.3 billion, and included $2.1 billion from Abbott’s BinaxNOW, Panbio and ID NOW rapid-testing products.
  • Looking ahead to 2022, Abbott provided full-year guidance...

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Topics: Medical Devices
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