Abbott is a medical technology company which designs, develops, manufactures and markets a wide range of medical devices, diagnostics, nutritional and generic medicines products, headquartered in United States, with global manufacturing and sales reach. Abbott’s product range includes Continuous Glucose Monitoring; Remote Heart-Failure Monitoring; Chronic-Pain Devices; Blood and Plasma Screening; Point-of-care Testing; Adult and Pediatric Nutrition and also serves in providing the solutions for the treatment of heart failure; heart valve disorders; diseases of the coronary artery and other heart related diseases. It also provides biologic solutions for the dental markets. The report, COVID-19 Impact on Abbott Laboratories Revenue and Operations (Medical Devices) presents a deep dive analysis into how Abbott Laboratories is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
Deep dive analysis into how Abbott Laboratories is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
- Abbott reported first-quarter worldwide sales increased 2.5% with diagnostic sales decreased 0.8% and medical devices sales increased 1.4%.
- Molecular diagnostics saw 29.1% growth due to the recent launch of three critical new tests for COVID-19: the ID NOW COVID-19 molecular test; the RealTime SARS-CoV-2 molecular test; and a serology blood test for the detection of antibodies to COVID-19. However, core laboratory diagnostics sales growth was negatively impacted by lower routine testing volumes.
- Despite the negative business impact of COVID-19, medical device sales increased 1.4% driven by 32.9% growth in diabetes care. However, both cardiovascular and neuromodulation businesses were negatively impacted by reduced procedure volumes due to the pandemic.
The report provides a comprehensive analysis of the impact of COVID-19 on Abbott Laboratories -
- It provides insights on Abbott Laboratories’s exposure to the regions and businesses impacted by the COVID-19 outbreak.
- It offers an overview of the company’s revenue impact by region and market for 2020 due to the COVID-19 outbreak.
Reasons To Buy
- An overview of how Abbott Laboratories will be affected by the COVID-19 pandemic.