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January 27, 2022

Abbott reports worldwide sales increase in Q4 2021

The company’s worldwide diagnostics sales increased by 2.9% on a reported basis and 3.3% on an organic basis.

Abbott has reported $11.5bn of worldwide sales for the fourth quarter (Q4) of 2021, representing growth of 7.2% on a reported basis and 7.7% on an organic basis.

During the quarter, the company’s global Covid-19 testing-related sales stood at $2.3bn, with sales for the full year at $7.7bn.

Abbott chairman and CEO Robert Ford said: “2021 was an outstanding year for Abbott. We achieved more than 40% EPS growth, exceeding the baseline EPS guidance we set at the beginning of last year and, importantly, continued to advance our new product pipeline across the portfolio.”

On a reported basis, the company’s worldwide diagnostics sales increased by 2.9%, while the organic basis increase was 3.3%.

Its Covid-19 testing-related sales across the world were $2.3bn, including $2.1bn of combined sales from rapid testing platforms Panbio, BinaxNOW and ID NOW. 

Excluding Covid-19 testing-related sales, in Molecular Diagnostics and Rapid Diagnostics, the company’s Q4 sales increased, on a reported basis, 24.1% and 9.7%, respectively.

Abbott’s Medical Devices business worldwide reported a 15.1% increase in sales on a reported basis and 15.9% on an organic basis.

The sales of FreeStyle Libre in Diabetes Care stood at $1bn in the fourth quarter, representing growth of 35.4% on a reported basis and 36% on an organic basis.

In 2021, the company received approval from the US Food and Drug Administration (FDA) for the Amplatzer Amulet Left Atrial Appendage Occluder and Portico with FlexNav transcatheter aortic valve replacement (TAVR) system.

Abbott’s latest generation TAVR system, Navitort, also received CE Mark.

This month, the company’s EnSite X EP System with EnSite Omnipolar Technology (OT) received US FDA clearance.

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