Revenue ($USD) : $14,687,000,000
R&D spend : not available
Employees : not available
Fiscal year end : 12/31/22
CEO : Robert Ford, chair and CEO; Lisa Earnhardt, medical devices EVP

Abbott has now had two straight quarters of double-digit organic sales growth in its underlying business.

Even as COVID-19 test sales continue to decline and hammer overall revenue, Abbott officials are betting on a productive, innovative pipeline to build momentum — especially in its medical device business.

Its FreeStyle Libre continuous glucose monitors (CGMs) are one of the most important growth drivers. The addressable market for the sensor keeps increasing, with massive coverage expansions all around the globe. Medicare’s coverage update kicked in this past spring. The FDA cleared Abbott’s next-generation FreeStyle Libre 3 last year. Abbott plans for a 15-day sensor launch in the U.S. in the second half of this year, as well as integration into Tandem Diabetes Care’s insulin pumps.

Abbott’s other recent medical device wins include receiving FDA approval of its TactiFlex Ablation Catheter, Sensor Enabled. The company describes it as the world’s first ablation catheter with a unique flexible electrode tip and contact force sensing technology to treat patients with atrial fibrillation. Abbott aims to increase the safety and efficacy of radiofrequency ablation tech to treat atrial fibrillation (AFib).

In July, Abbott announced FDA approval of its Aveir dual chamber leadless pacemaker system. The company says it’s another first — a dual-chamber leadless pacing system that treats people with abnormal heart rhythms.

Earlier this year, Abbott completed its $890 million acquisition of atherectomy technology developer Cardiovascular Systems. –CN