MedTech Dive January 24, 2024
CEO Robert Ford said investing in its base business using COVID-19 testing revenues was “absolutely the right strategy.”
Abbott CEO Robert Ford told investors on Wednesday that all four of the company’s major segments are in “stronger shape than we were pre-pandemic,” adding that the company’s plan of taking revenue from COVID-19 testing and investing it back into the business was “absolutely the right strategy here because we believe that these are important areas of healthcare to be in.”
J.P. Morgan analyst Robbie Marcus said in a research note that Abbott’s medical devices and diagnostics segments outperformed analysts’ expectations, offsetting softer quarters in its established pharmaceuticals and nutrition businesses.
Abbott’s medical device segment reported $16.89 billion in sales in...
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