Pins matching tag:Abbott

Abbott agreed to buy Cologuard maker Exact Sciences for $105 a share in cash, a total equity value of about $21 billion, to enter cancer screening and precision oncology diagnostics.

Abbott began a medical device correction for about 3 million FreeStyle Libre 3 and Libre 3 Plus sensors in the U.S. after internal testing found some give incorrect low glucose readings, an issue it linked to 736 severe adverse events and seven deaths worldwide. The FDA later made it a Class I recall.

The FDA approved Abbott's Volt pulsed field ablation system, a balloon-in-basket catheter that maps, paces and ablates, to treat paroxysmal and persistent atrial fibrillation. The approval rested on the 392-patient VOLT-AF IDE study at 40 centers.

Abbott closed its $105-a-share cash purchase of Cologuard maker Exact Sciences, which became a wholly owned Abbott subsidiary; Exact Sciences shares last traded on Nasdaq on 20 March.

Abbott posted second-quarter sales of $12.59 billion, up 13.0% reported and 4.8% comparable, and adjusted EPS of $1.31, and raised its 2026 adjusted EPS guidance to $5.45 to $5.60.

Abbott and Google Health launched a multi-year partnership to bring glucose data from Abbott's over-the-counter Lingo sensor into the Google Health app, where Google's AI Health Coach will use it for personalized advice. The deal includes one of the largest real-world metabolic health studies.

Abbott agreed with three law firms to pay about $670 million to settle the Gill case, a $495 million St. Louis jury award, and NEC claims for about 2,000 other preterm infants fed its specialty formulas. About 1,700 lawsuits covering some 12,700 infants remain.

The FDA authorized Abbott's Libre Duo 10 Day, the first wearable to continuously track both glucose and ketones, which alerts people with diabetes aged 2 and older to rising ketones before diabetic ketoacidosis.

Abbott's next-generation Amulet 360 left atrial appendage occluder received CE Mark to cut stroke risk in non-valvular atrial fibrillation, with the first European implants done in Frankfurt, Lubeck and Aarhus.

The FDA approved Abbott's TactiFlex Duo, a catheter that can deliver pulsed field ablation, radiofrequency energy or both in one procedure to treat complex atrial fibrillation. The approval rested on the FlexPulse IDE study.

Abbott will pay about $385 million ($384,999,040) to resolve Justice Department, state and whistleblower claims over powdered infant formula made at its Sturgis, Michigan, plant, the site of the 2022 recall. Abbott admits no liability, and the government has closed its criminal investigation.

Abbott is expected to report third-quarter 2026 results before the market opens and webcast its earnings call at 8 a.m. Central, most likely on Wednesday 21 October; it has guided to adjusted EPS of $1.38 to $1.46.