Abbott US diabetes device sales up 27% amid largely positive Q1

Abbott has posted beardown gross for its diabetes devices successful Q1, contempt wide income for the institution narrowly missing Wall Street expectations.

The medtech elephantine posted an summation successful year-over-year wide gross of 4%, giving full takings of $10.36bn.

After reporting a affirmative adjusted first-quarter nett of $1.09 per share, shares successful the institution roseate 1% astatine marketplace unfastened contiguous (16 April). Share prices roseate further into the mid-morning. Abbott has a marketplace headdress $218.9bn.

Abbott’s aesculapian instrumentality concern was the strongest operator of gross successful the archetypal quarter, driven by beardown show successful the diabetes segment. A beardown twelvemonth for the company’s diabetes devices led to a 16.5% income summation compared to the aforesaid 4th successful 2024. Abbott’s US marketplace saw a peculiarly precocious leap successful maturation – a 27% year-over-year alteration to bring diabetes income successful the US unsocial to $748m. This compares to $1.08bn generated internationally for the Diabetes Care unit.

Sales of continuous glucose monitors (CGM), which includes the company’s FreeStyle Libre range, grew 18.3% to scope $1.7bn. The institution boosted manufacturing capableness for its diabetes conception with the opening of a caller installation successful Ireland successful precocious 2024.

The planetary diabetes instrumentality marketplace is forecast to turn to implicit $44bn by 2033, according to investigation by GlobalData. Abbott has a 1.4% marketplace stock of the CGM marketplace and insulin pen instrumentality market, arsenic per further GlobalData marketplace analysis.

Segment income for Abbott successful Q1 this twelvemonth are a affirmative motion for the company’s investors fixed that the diabetes tract saw large merchandise launches from rivals Insulet and Medtronic successful 2024.

Abbott’s electrophysiology concern besides fared well, posting $629m successful planetary sales. The institution entered the lucrative pulsed tract ablation (PFA) marketplace successful Europe past month, courtesy of Conformité Européenne (CE) marking for its Volt system.

Looking up to 2025, Abbott projects full-year 2025 integrated income maturation betwixt 7.5% and 8.5%.

Abbott besides announced it would put $500m successful expanding 2 manufacturing sites successful the US amid the continuing improvement of President Donald Trump’s tariffs. The doubling down successful the US comes via the enlargement of 2 of its sites successful Illinois and Texas.

"Abbott US diabetes instrumentality income up 27% amid mostly affirmative Q1" was primitively created and published by Medical Device Network, a GlobalData owned brand.

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