Forbes November 20, 2025
Abbott Laboratories $21 billion deal to acquire cancer test maker Exact Sciences could bolster the company’s diagnostic division that has lost billions of dollars in revenue in recent years from less demand for tests for the Covid virus.
Abbott made billions of dollars during the Covid-19 pandemic as one of the world’s biggest sellers of Covid tests and testing kits. But those tests aren’t paid for by the U.S. government like they once were and health insurance coverage has also waned as the public threat of Covid generally has subsided.
At one time, Abbott was generating more than $8 billion in Covid test sales alone in 2022. Abbott’s total diagnostic sales in the third quarter of this year were only...
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