Abbott Reports Strong Q4 2019 Results and Outlines Robust Growth Targets for 2020

Abbott Fourth QuarterMedical DevicesThe business segment delivered strong performance, with global sales increasing by 11.3% year-over-year to reach $3.2 billion, reflecting a full-year growth of 10.5%. In heart failure, electrophysiology, structural heart disease, andDiabetesNursing and other business segments all achieved double-digit growth. In the electrophysiology field, year-over-year growth was 11%, driven by cardiac mapping and ablation catheter products. The heart failure business achieved 13% double-digit growth, driven by the HeartMate 3 Left Ventricular Assist Device, which improves survival rates and clinical outcomes for patients with advanced heart failure. In the structural heart disease sector, year-over-year growth was 17%, led by MitraClip, the globally leading minimally invasive transcatheter product for treating mitral regurgitation, improving survival rates and clinical efficacy in patients with this condition.®Outstanding performance, with global sales reaching $191 million in the fourth quarter, a 29% year-over-year increase. Abbott atDiabetesIn the fourth quarter, sales growth in the nursing care business reached 34%, driven by the revolutionary FreeStyle Libre scan-based continuous glucose monitoring system.®FreeStyle Libre®(FreeStyle Libre) Global sales reached $534 million, representing a 62% year-over-year increase.

Abbott’s global diagnostics sales in the fourth quarter rose 6.4% year over year to $2.1 billion, with full-year growth of 5.9%. The core laboratory business grew by 10%, driven by the continued strong performance of its Alinity system for core laboratory diagnostic solutions, as well as innovative and differentiatedDiagnosisProduct portfolio achieved growth exceeding the market average in both the U.S. and international markets. Meanwhile, Abbott’s most advanced blood screening system, Alinity®-S has been adopted by the Australian Red Cross.

Abbott’s global pharmaceutical sales in the fourth quarter rose 10% year over year to $1.2 billion, with full-year growth of 7.3%. Growth was led by the Latin America and Asia markets.

While maintaining robust performance growth, Abbott was once again named to Fortune magazine’s “World’s Most Admired Companies” list. This recognition marks the seventh consecutive year that Abbott has ranked first in the medical products and equipment industry on the list, and the 36th time overall since 1984 that the company has been honored. As a premier global business publication, Fortune annually invites executives, analysts, leaders, and experts from Fortune 500 companies and other leading enterprises worldwide to vote for the year’s “Most Admired Companies.” The selection is based on performance across nine criteria: innovation, quality of products and services, financial soundness, global competitiveness, human resource management, corporate asset management, corporate social responsibility, long-term investment value, and quality of management.

Fortune magazine's "Most Admired Companies List"

Mr. Robert Ford, Chairman and Chief Executive Officer of Abbott, stated, “We have delivered strong performance by focusing on the organic growth of our business. Entering 2020, we are well-positioned and will continue to drive robust growth.”(Bio Valley Bioon.com)

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