Diabetes And Diagnostics Drive Abbott’s Growth In Q1
COVID-19 continues to hinder Abbott’s heart failure and neuromodulation business, but sales of COVID-19 tests drove unprecedented growth in the diagnostics business.
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Among the company's many milestones in the first quarter, the FDA approved its Therasphere radiation seed device, a major building block of the company's interventional oncology business.
The US FDA approved Abbott's system that allows physicians to communicate with patients and remotely program their neuromodulation device.
Abbott reported almost 28% revenue growth in the fourth quarter led by the exploding demand for COVID-19 tests and continued success of its FreeStyle Libre continuous glucose monitor.