ABBOTT DIAGNOSTICS ANALYST REPORTS FULL
Abbott also expanded its Vascular portfolio with the acquisition of Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive thrombectomy system designed to remove peripheral blood clots.įor full financials and reconciliation of non-GAAP measures, you can read Abbott's press release. Highly productive pipeline - Several new products launched in large, high-growth markets, including Amplatzer Amulet, Portico with FlexNav TAVR system and the FreeStyle Libre 2 iOS app in the U.S.pediatric Nutrition, with strong performance of Abbott's market-leading brands Ensure, Glucerna and Pedialyte. Strong Nutrition sales - up 8.9% organic (9.6% reported) - driven by international adult and U.S.Excluding COVID-19 testing-related sales, global diagnostics sales increased 12.5% organic (14.1% reported). Robust growth in Diagnostics - 46.8% organic (48.2% reported) - with COVID-19 testing-related sales of $1.9 billion, of which approximately $1.6 billion were rapid tests.This growth was driven by sales of FreeStyle Libre systems and Libre Sense, $968 million in the quarter, which translates to an increase of 38.8% organic (41.6% reported). Solid Medical Devices sales - 13.1% organic (14.6% reported) - spurred by continued recovery from the COVID-19 pandemic and strong growth in Diabetes Care.These are the key third-quarter highlights: Sales - excluding COVID-19 testing - grew double digits, 11.7% on both an organic and reported basis versus pre-pandemic levels in the third quarter of 2019. 4Ĭomparing these results to a pre-pandemic baseline illustrates the true strength of Abbott's businesses. $1.40 adjusted diluted EPS, reflecting 42.9% growth compared to the prior year.$10.9 billion in worldwide sales, up 22.4% organic* (23.4% reported) versus the third quarter of 2020.As we've seen throughout the pandemic, Abbott's diverse business portfolio continues to be highly resilient, reflected by its strong third-quarter results.īased on the company's strong performance - including double-digit earnings and sales growth - and the company's outlook, Abbott raised its 2021 adjusted diluted earnings-per-share 1 (EPS) guidance from continuing operations to $5.00 – 5.10, 2 which reflects 38.4% growth at the midpoint compared to last year.
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