US-based Abbott Laboratories (NYSE: ABT) has released its Q4 2024 financial results, reporting an 8.8% increase in organic sales to USD 10.974 billion. Excluding COVID-19 testing-related sales, the company achieved a 10.1% growth rate. For the full year, Abbott generated USD 42.0 billion in revenues, up 7.1% on an organic basis and 9.6% excluding COVID-19 testing-related sales.
Business Segment Performance
- Established Pharmaceuticals: This segment saw organic growth of 8.5% to USD 1.268 billion, with emerging markets contributing significantly (+8.8%). Sales growth was driven by products in digestive health, women’s health, and central nervous system/pain management.
- Medical Devices: Leading the way, this unit achieved a 14.0% organic expansion to USD 5.052 billion in sales. Diabetes-related sales grew robustly at 22.8%, with both the US and international markets posting double-digit growth at 14.0% each.
- Diagnostics: Recovering from the impact of decreased COVID-19 testing sales, diagnostics sales reached USD 2.52 billion, up 1.0% organically and 6.1% excluding COVID-19 testing-related sales. Strong demand for Abbott’s respiratory disease tests, including those for influenza, strep throat, and respiratory syncytial virus (RSV), drove the recovery.
- Nutrition: This segment posted a 7.1% organic increase to USD 2.129 billion. Adult Nutrition sales grew 11.4% organically, led by strong performances from the balanced nutrition brand Ensure and Glucerna, Abbott’s market-leading brand for diabetes-specific nutrition.
2025 Outlook
Abbott projects full-year 2025 organic sales growth to be in the range of 7.5% to 8.5%. The company anticipates a full-year 2025 adjusted operating margin of 23.5% to 24.0% of sales, reflecting continued investment in innovation and growth initiatives.-Fineline Info & Tech
