Hold onto your stethoscopes! Abbott, the global healthcare company, has released its latest earnings report. We’re here to share with you insights about Abbott’s business updates, financial performance and other plans so you could learn about their achievements, challenges and ways to prospect into them.
Abbott Completes Acquisition of Bigfoot Biomedical
(source: https://abbott.mediaroom.com/2023-09-22-Abbott-Completes-Acquisition-of-Bigfoot-Biomedical)
Intel type: Mergers & Acquisitions
Date: 22 September 2023
Abbott (NYSE: ABT) today announced it has completed the acquisition of Bigfoot Biomedical, a leader in developing smart insulin management systems for people with diabetes. The transaction expands Abbott’s presence in diabetes care, building on its world-leading FreeStyle Libre® portfolio of continuous glucose monitoring technology and furthering the company’s efforts to develop connected solutions for making diabetes management even more personal and precise. Pursuant to the terms of the merger agreement, upon completion of the acquisition, Bigfoot became a wholly owned subsidiary of Abbott. Financial terms were not disclosed.
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Abbott Labs, mAbxience Enter Biosimilars Mfg. Pact
Intel Type: Deals & Partnerships
Date: 21 September 2023
Abbott Laboratories entered into an agreement with Spain-based global biotech company mAbxience Holdings S.L. to commercialize several biosimilars focusing on oncology, women’s health, and respiratory diseases in emerging markets.
The first molecules are expected to launch in 2025, while others are subject to the completion of clinical development and registration. Abbott will register and commercialize the biosimilars in key emerging countries in Latin America, Southeast Asia, the Middle East, and Africa.
mAbxience will manufacture the biosimilars at its GMP approved facilities in Spain and Argentina. In addition, mAbxience will be responsible for achieving the clinical milestones for some of the molecules still undergoing development.
This insight is useful for your prospecting if your business deals with: manufacturing equipment, healthcare, manufacturing automation, healthcare management, precision manufacturing, personal health, laser marking automation, pharmaceutical industry
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Abbott breaks ground on FreeStyle Libre manufacturing plant in Ireland
(source: https://www.massdevice.com/abbott-breaks-ground-freestyle-libre-manufacturing-ireland/)
Intel Type: Media, News & PR
Date: 14 April 2023
Abbott (NYSE: ABT)+
today broke ground on a new FreeStyle Libre manufacturing facility in Kilkenny, Ireland.
Jared Watkin, SVP for Abbott’s diabetes care business, shared the news of the groundbreaking in a LinkedIn post.
In August 2022, the Irish government announced that Abbott planned to spend €440 million ($450 million) to expand its operations in Ireland. The investment included the creation of a new manufacturing facility in Kilkenny. It also featured further investment in the company’s Donegal Diabetes Care site, adding 1,000 new jobs between the sites.
This insight is useful for your prospecting if your business deals with: manufacturing equipment, healthcare, manufacturing automation, healthcare management, precision manufacturing, personal health, logistics distribution
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Three insights from Abbott’s Q4 2022 quarterly earnings
Here are three compelling observations from our analysis of Abbott’s Q4 2022 earnings report, which was unveiled on January 25th, 2023.
Testing The Limits
Abbott’s diagnostics business, which includes COVID-19 tests, continued to see growth in Q4. Their portfolio of diagnostics products continued to expand with new offerings in oncology, infectious diseases, and more. The healthcare and pharmaceutical industries will continue to benefit from Abbott’s diagnostics business.
Clear Vision
Their eye care business had a clear vision of success in Q4, with strong sales of their products. They offer a range of products, including contact lenses, lens care solutions, and cataract surgery equipment. Their products are making a positive impact on the vision care industry, and Abbott’s innovative approach is driving progress forward. This is a good time for Abbott to leverage technology and research solutions.
Life-Saving Innovations
Abbott’s medical devices business continues to break new ground in Q4. They recently received FDA approval for their next-generation transcatheter aortic valve replacement (TAVR) system, which can help people with severe aortic stenosis. Their innovative products continue to push the boundaries in the medical device industry which could continue to benefit from healthcare providers and research and technology professionals.
Three insights from Abbott’s Q3 2022 quarterly earnings
Here are three compelling observations from our analysis of Abbott’s Q3 2022 earnings report, which was unveiled on October 19th, 2022.
Diagnose This
Abbott’s COVID-19 tests have been in high demand during Q3, and Abbott’s diagnostics business has been a crucial player in the pandemic fight. From tests for schools and workplaces to professional sports leagues, Abbott’s tests have been helping to keep the world safe. This is a great opportunity for the healthcare and pharmaceutical industries to pursue partnerships.
Sweet Sales
The diabetes care business is soaring high with strong sales in Q3. Their innovative product, FreeStyle Libre, has been a big hit with people with diabetes. It is a small device that attaches to the skin and measures glucose levels continuously, eliminating the need for finger sticks. This has made life easier for millions of people with diabetes. This increase in sales could also call for reliable inventory management and supply chain solutions.
Miles Ahead
Cardiovascular and Neuromodulation businesses are making impressive strides in Q3. Their CardioMEMS technology has been helping heart failure patients, and their neuromodulation business has been making progress in treating Parkinson’s disease. These businesses have a significant impact on the medical device industry, and Abbott’s innovative approach continues to drive the industry forward.
Abbott’s latest earnings report shows that the company is firing on all cylinders. Their medical devices business continues to perform well, driven by strong demand for their cardiovascular and diabetes care products. Abbott’s emerging markets business is also showing significant growth potential, particularly in countries like China, India, and Brazil. The company’s financial strength gives them the flexibility to invest in growth opportunities, pursue acquisitions, and return value to shareholders. With such a solid reputation in the market, Abbott is poised for long-term success in the healthcare industry.
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