Abbott Laboratories (ABT) 17 Apr 242024 Q1 Earnings call transcript

Good morning, and thank you for standing by. Welcome to Abbott's First Quarter 2024 Earnings Conference Call. [Operator Instructions] This call is being recorded by Abbott.

With the exception of any participant's questions asked during the question-and-answer session, the entire call, including the question-and-answer session, is material copyrighted by Abbott. It cannot be recorded or rebroadcast without Abbott's expressed written permission. to like now would introduce Mr. I Vice Comilla, President, Investor Relations. Mike

Funck, thank Good and us. Bob and Finance; Chief you Phil President, With Robert provide Senior and Phil Chief Vice Boudreau, and me Officer; Financial Chairman joining Finance Ford, opening for morning, remarks. Vice President, Robert today Executive and Officer. Executive will are

Following their comments, we'll take your questions.

that expected in statements to are the of get factors may Abbott no these be may purposes our Abbott and events differ law. the the of or Abbott's those to competitive, today obligation XXXX, XXXX. the some Act forward-looking materially developments, uncertainties Factors, XX-K to results XXXX. Reform made release and may Private Item revisions indicated results in result report statements Risk ended started, statements. publicly governmental, Litigation as discussed cautions Before forward-looking by on Form of forward-looking forward-looking we subject required year undertakes Securities except for statements subsequent that as financial to including to from annual a for other operations XA, actual for that XX, affect cause are risks December technological any Economic,

growth reconciled provided our release earnings in are which website call is the will exchange today's measure understand Unless press basis our predict could forward-looking used reported the over I Abbott are filings which to non-GAAP rates, comparable on financial unable sales our to that, refers Abbott's These in foreign the growth. help changes GAAP organic for regulatory Note future to measures turn organic financial GAAP news ongoing growth today. call, On growth, sales with has at conference that measures from Robert. as a now measures With in not is noted, on sales issued the sales available financial investors because non-GAAP defined impact release financial commentary past, will which earlier in be and the otherwise the business to abbott.com. on today, company performance.

everyone, thank Today, we quarter consensus share which us. Good of was reported you and for analyst above $X.XX, Mike. per earnings estimates. Thanks, morning, adjusted first joining

guidance raised the sales earnings full growth, for midpoint both of also share We X.X% adjusted XX%. of of growth. sales our $X.XX and share $X.XX earnings ranges now and to per excluding per year forecast organic testing-related COVID to sales, We

excluding was quarter driven portfolio, quarter, growth in start Organic COVID fifth to strong sales in Medical Pharmaceuticals. sales, consecutive the The of double-digit XX.X% Established year growth. Devices XX% growth testing-related of across the growth, represents was including and the the which broad-based by

and addition obtaining the objectives top achieving new approvals to including exceeding this and number lines product In pipeline, both bottom a across milestones. expectations of clinical accomplished important trial-related we quarter, of several

in I'll X% now start infant U.S. call turning Strong in the by the formula, our share quarter. infant portfolio business over detail growth growth international to double-digit adult formula of the Pediatric Nutrition, and continued increased by brands. summarize sales gains in growth market I'll our first quarter was driven led and nutrition Nutrition, before and in where results across with the in Phil quarter more toddler

nutrition loss. new we January, nutritional weight In support provides a Protality, for pursuing launched adults shape called which

personal weight of loss and combination pursuing role overall health. plays medications, protein portion surgery Protality a undergoing while preserve vitamins muscle minerals a muscle in high or and less a calorie mass, which essential can eat help an that goals. diet, of weight is weight following restricted loss offers A from and important lean what lost people is their people As lose GLP-X taking

XX% where increased EPD, in quarter. sales to the Turning

of of quarters. the strong a This of was in impressive trend X last continuation including X growth EPD's quarter performance, double-digit

profile addition compared a line of with track that more gains impressive operating top this has on margin equally line to growth, year XXXX. to an points the XXX delivered bottom improvement basis record In last strong of business reflected than

where by care to excluding takes COVID Diagnostics market-leading screening continues Diagnostics, X%, for facilities. Growth sales testing and and of offices, more including sales. increased adoption to physician retail be hospitals, settings, the testing variety blood a in demand systems laboratories, than Moving in place pharmacies our that led urgent of centers,

that for tests role traumatic point-of-care brain minutes. expand help that the in In suffered making FDA important Our or injury if health in developing possible. care we as of received development a and fast can creating concussion someone diagnostic new determine diagnostics test April, accessibility testing efforts in systems focus play on deliver XX results new approval decisions, mild an as a and just

to run into which beyond that test is care portable i-STAT on move traditional Alinity setting and to urgent the concussion people going allows the The emergency checked physician care for With hospital believe for patient. U.S. closer year, of to concussion our the has instrument standard the testing. the offices and be locations testing are to other million X potential to concussion the transform nearly test suspected in we each room this centers,

And I'll $X.X In Devices, the and in where grew wrap grew up Diabetes were FreeStyle sales billion Care, Libre XX%. Medical with XX%. quarter sales

mentioned opportunities strong previously trajectory continue to fuel that that sales several the Libre forecasted. have we growth I will new has As help

for relates to opportunities growth those therapy for insulin to use the who of continued manage their basal expansion of One Libre individuals diabetes. reimbursement coverage

part basal continuous Libre announced nationally only diabetes all insulin their we that in include glucose and reimbursed system year, the monitoring as who France to be to first of Last became management. people use

obtained users approximately only of for this number coverage number in limited their across further million for insulin private use Germany but an other medication diabetes Germany, users insulin markets. European from oral the in a cover of of quarter, basal a condition. During sign expansion to this who but is basal the in select public encouraging X potential not Germany, select manage payers also and reimbursement institutional first These Libre payers

XX.X% vascular sales growth Electrophysiology, in quarter. double-digit in the categories, related devices, grew by growth and cardiac and product in acceleration XX% in led all cardiovascular and mapping structural In sales major rhythm overall catheters electrophysiology, geographic ablation by major products. double-digit and including driven double-digit portfolios. heart In all management growth regions across continued cardiac in our grew and

We continue make to great progress to market. our bringing towards PFA Volt catheter innovative

us end we enrollment Mark approval the in completed the March, In international our putting clinical study CE file before track year. for to of on

filing. patients strong including of clinical in also XX% LAA, We areas, was data TAVR, high-growth Structural Heart, AF, will began VOLT to approval in and enrolling generate several repair. needed mitral U.S. trial called FDA which our support In growth an by performance tricuspid led the recently

contributions the an that years Structural of heart life. received excited growth. repair this regurgitation and of this portfolio Anglet quality a in area sustainably MitraClip create is reflect United In growth the a approval balanced for first to a now diversified treatment increasing device received of like to past, that invested its drive portfolio over Navitor, symptoms of today, offer that significant more the But In the are newer approval the valve. heart to condition. in TriClip we trial and or TriClip. order from tricuspid from TriClip, improvement double-digit client patients and demonstrated almost leaky supporting their States We're designed deliver growth. a and tricuspid can who from the people for life-changing relied exclusively option this we the past products severity the have suffer that in clinical April, we Data experienced to on in valve FDA treatment

market. pacemaker. leadless single-chamber Rhythm for revolutionary growth is recently segment rates In exceed growth growth technology this is market is has pacing of our the Management, overall dual-chamber in the captured the helping was Management led X.X% of in launched deliver This business share Aveir of market Aveir, in pacing, and the by market. that rapidly pacing which segment largest being Rhythm significantly used to our now the

device, neuromodulation, used lastly, launch device And movement XX%, is Libertad disease. pain in as by in such treat Eterna, deep January, brain stimulation management. for smallest And which driven announced grew world's we rechargeable to a the Parkinson's the rechargeable of sales disorders neurostimulation

in And and expectations both start midpoint EPS So we the and raised a to on to the we're lines. sales result, top good ranges. guidance a summary, very our off bottom as of year, exceeding

good investments we're make the our returns gross across growth to making progress continue on expansion We margin from strong seeing initiatives, platforms. we're our and

continued of now the be for approvals, Our to strong pipeline product recently we're over has the I'll to to results remainder deliver continue call highly delivering And positioned new productive, several the year. well Phil. very turn to and

Robert. Thanks,

mentioned please sales on As all rates, an growth organic basis. to otherwise are references unless earlier, that Mike noted, note

in decline organic an expected, results. of increased as to Turning COVID year-over-year impact on first quarter includes Sales testing-related our basis, the which, sales. X.X%

organic COVID quarter. underlying in growth sales, was XX.X% Excluding testing sales business base the

year-over-year unfavorable first impact an quarter X.X% sales. had of on exchange Foreign

During versus the of the currencies, in on rates to the which exchange our exchange having at quarter, compared impact we a call more several earnings sales unfavorable January. time strengthen dollar saw in U.S. resulted

adjusted X.X% Regarding the sales, XX.X% of R&D ratio Adjusted in margin quarter. the the first of of was P&L, SG&A gross was of other adjusted aspects was sales. and XX.X% sales

rate tax first our Lastly, XX%. was adjusted quarter

range year. in represents outlook at Turning earnings We midpoint compared of to of guidance which the full $X.XX the per the the year range share our full now increase for to forecast provided an adjusted $X.XX, January. to we

organic sales guidance our growth. growth, sales the COVID be testing, for of forecast midpoint in the raised excluding to also of now organic range We We XX%. X.X% to

of we Based sales. impact sales an which full to year expected quarter X% on includes impact current second approximately reported have an on exchange unfavorable unfavorable reported on of approximately expect rates, X.X%

the now call share $X.XX. for $X.XX that, second questions. Lastly, for of earnings adjusted we'll to the With forecast quarter, we open per

Marcus come Instructions] our from first question from JPMorgan. [Operator And will Robbie

first upfront. nice for quarter Congrats both me, on Two them just a ask here. I'll

over very I we know, XX top to Robert, particularly almost see past, on never the X guidance, the raise back rare. years, looking it's line the first Abbott First, quarter. in don't

the first the of on midpoint part in is, guidance gave what you year? early confidence this the raise the to So

lot as address obviously, case I with that. was loss second, in nutrition. And litigation. competitors' on What's your a stance it to ongoing relates NEC then a you the during of the infant concern quarter could been hoping there's for

time there's should looking data points for? been any I about have think X,XXX be cases lines filed. that or we And upcoming

Sure, Robbie.

take guess go So a and let's your the first had you're I look I that. on to back at to go right. guidance. question Yes,

beginning time XXXX. always as which I we guidance done last the set to in top work top portion, here, think at tier. we on. is we which the then what that's tier guidance, that to we And obviously focused more growth, And high COVID are EPS want investors single-digit, be right? testing I'd beat a and year, raise in double-digit year, is QX is we the freight throughout consider excluding did say the the the Robbie, believe of we've was really

So that that balance opportunities was a And and the guidance set the obviously, the the ago challenges have target of back bracket top-tier guidance months January. and that in we'll couple appropriate that we always range. that find between

If said you the there FX, And in risks are whether that or business be was performance. I the of of our it's gone opportunities I haven't businesses, whether still a remember, strong geopolitics very think in it's think performance continues I there. thought still some that accelerating actually risks. some very, away. still we -- the businesses they those our there, of to our of in But I lot saw in clearly, than that January January, more They're

here. growth said double-digit I my X as consecutive in So of comments, quarters

EPD great Nutrition performer. great track a both outperforming medical year. wins to now working been XXXX. recovering job we're the So the you at markets internationally that and you And able in there. and grown real and job at in. just what X growth $X can Diagnostics versus has some We've billion large in got we're team rolling teams The introduce U.S. done strong to has incredible out We've a continues here incredible an are the share. devices, have consecutive record great biosimilars business. be tell look that this participating businesses, the has the expansion, growing to of market. into account of an of adult done I each our over margin all consecutive, double-digit

to seen year, guidance med were and the what it at from seems the our be this other Last from again tech I've market, guidance that's year. we fastest-growing from in what the is company, least

of all this just plus pipeline that you contributing an just confidence great put together, I type the performance all put delivered the to product for that level, outlook and that's of So I gives accelerated remainder new the us the year. together, been the that approvals. that of we feel

in the continue that through than Again, And into comfortable move we I usually as there's we to the quarter, move pointed So don't going raising quarter believe forward. first you something which as we risks more probably out, felt the opportunities guidance. second do. that is, here as we

raising momentum. So usually the I quarter, something guess don't in that's great just the which do, our and framework great is of that first guidance performance we

other say I'd your we that question then from was And the a in have some cases July. yes, happen will cases. date, regarding net court

quite a range care were kind if decades, nutrition health doctors a help doctors. they're that of support calories, necessary premature feed of attrition needs vitamins, think at. U.S. born cetera, of It you frankly, how infant options say, supply a milk that that thing maybe key I donor human that's meet So it's at provide but each that baby. unique pass-throughs needs of of when to a available, is is of donors me the look the these life-saving you we nutritional premature the satisfy are And milk But going infants the milestone helps are not to mother's mill, sufficient to to a decision, we not premature et I'd a milk the of about the of there premature use products And that that all of And look the want in infants, our here. the And asking infants. specialized And includes medical milk includes for needs to nutritional where proteins, from framework available how this, lack to may infants. they're because providers, we've includes formula provided mother's pretermed that for some the Robbie. also premature some that's the even

be for care fortified feeding boost the a So milk their to that And that order premature societies of a the the to nutritional infants. standard consider of Most these needs of they to to read is critical output. when you these community -- care part use critical, mother's in it milk products. medical the be products positions, standard of

who experiences products do the they benefited the countless years, babies, have our many, are work there safe. these NICUs, today. clinical are and repeatedly many decades products that doctors And studies so life-saving they've and So continue for in Robbie, over used to these that from established products,

science really they're that know, lawyers advance a we So distort it's theory supported by and everything promoted of distorts medical it these by litigation not and that cases, to seeking plant community. sport the the

able science and we're of the So preparing kind lay facts, to for our our the the data cases behind we to and be stand out products.

Our Biegelsen Wells Fargo. will come from next from question Larry

congratulations here. the I'll strong the year Robbie's to echo start on

EP. So Robert, on to focus just wanted I

So here, a one. question multipart but just

should Your with the nicely business you in geographies? that? date. U.S. sounds sometime Europe to EP the want year first different the on Vault in Can lastly, your what business filing based expectations launch. it for about I talk U.S. So expect just grew that. Vault confirm just quarter we outside you're and next drove like What going seeing forward the the And so the in before in EP approval the PFA

my said we I Like the There's completed Yes. follow-up, comments, trial. in a X-month Larry. Sure. opening

that means by end So for to then that going this process. here on depend will we target to C just be year. it's that of on Mark And file the

not is an but growth. before many I'm mean here the the I important -- therapy. know of surprised end be, getting underpenetrated our the surprised. the We year. it's disease. I'm not EP of Yes. point think I first on It's call that's our mean, probably I So an anchor filing might by all, in I

of surprised as but haven't a right? result -- growth we there's of we growth. competitive, in So it's the highly So been this by segment. plenty that, And know

look at If you been PFA, X for years. it's in Europe

growth in our where saw It If you catheters. in growing double-digit broad-based years growth over growth rate average this mid-teens. we we've remains Europe X broad-based. quarter, ablation And those last the Europe, in was been again

the on And has but side on just technology great catheter the U.S. the also, yes, side. ablation come on then also growth to not side, this now the So mapping mapping

of probably we had U.S. maybe X out the think to be here in rolled I months seeing

been I the in in of competitors the bringing the aggressive to have U.S. very here accounts terms think technology the

And there I'd differences been not Europe. are Larry. to to in we've mapped cases, the some but those say there I single Europe, majority say of I'm a going can lot been of in we've but to say case, we've a every there. And vast similarities some cases are

we starting that Europe kind things of the of one was technology a inclination the in was think as this use X that to saw off I shot. there

than more an the places we least on RF first mapped those months, the business occurred, cases in We traditionally what would least in of cases. that's we ones I had where that at where saw impact that And a our saw on using the cryo were mapping the at large side. of at least the portion So -- say in cryo. couple that's were they here

bit I using a of or we Europe. part was in that in Europe direct is lower that think of difference indirectly, using the that were mapping little least the saw XX% at we That mapping. we're cases number

that in probably bit a that's U.S. bodes well right? I And the difference saw us, for here little So of the

option our mapping viewed Our widely as excellent these mapping catheters insight mapping our an here cases. system, are system, for PFA

architecture base, said capital. installed need don't We are Don't here in support. to open, calls. is previous I've have familiar clinical a customers got best-in-class need the it. for fight to large as We've with room, make And

and less integrates actually software well to last catheters. faster released floor potential catheters these procedures visualization road better it So time. upgrade recently even month provides these that a PSA with these We for with and

is going to market be frankly, a time there's this at perfect I quite combination, transition. where So think a

lot your that, thought is like of situation what when There's customers. And you think point heard data a about that question we a lot pulled interesting have was I that's an a our cases part of I catheter of cases There's One key, drive we and choices. we of new saw, products. was that RF also flexibility we the in that? helped what from In that also the to of observed were X/X we saw. that

was an do the et touch and top pulled catheter of on ups, cetera. RF So catheter to

us that here right interesting seen positive say happening. it's we've I some favorable now, on the in be everything U.S. I'd side, the for there's dynamics that in And then So think Europe some had could probably look if at very our of look also. we our X I -- day. at still per it's X early. was months. March, cases of And highest But most we probably That

So this are of And the so used positive, so force in We very tissue our and promise occurred. program. our algorithm as integration some our those is from about with all products and that a technology. differentiator used we're the excited that the released on seen being the are and excited like medical far including about today. meetings and data feedback good. And contact that visualization, what's We're versus program a real as recent Ensite, the being

So.

Cowen. come from question Josh will next from Our Jennings

the you segment just could segment on loss just X here pay Germany. should radar Great your share to gain cash And the of in CGM start just strong XXXX? we opportunity I Libre. payment sounds coverage versus progress other early said competitive I It thoughts follow-up. already any to hoping launch see have integrated decisions the U.S., results. hoping countries. share or that the first And various then here -- I was market non-insulin the was have like in on on share in in or one nice with pump made in the type you've our QX in ask risk some just internationally, Robert, help in the

Sure.

team regarding it's information, your On global the question, full being always forecast coverage difficult clinical can you, that's done mean month negotiations, -- that the has payment work X map to exactly the cetera. on decisions. or tell of of a I quarter. I all et international kind though,

occurring to of prepared and kind it. in and positioned market build think So health said difficult we're have of I this the some to I in previous my will the population. this the proves remarks and And globally forecast see -- data that what that on so think is calls for But it's reimbursing be clinical, going well medical by you're shows economic as benefit there. I

progresses, already, news, year the their Internationally, that either they pretty markets more the or Canada, events think big just we get those I progresses, France, process. I Maybe as year but medical we that. are in or I increasing Germany, think got don't Italy, I starting are some splashy fully see Japan, there you'll think coverage continuous you'll whether seeing markets reimbursed are said, And large like PR decisions. as it's on see

data, side, just out share right every to side. U.S. for And your trading the be the new XX get with the more to the I on now, going I pump basal X by channel data, on gains compelling. guess audited going to share I that served even -- for On is care the on this primary mean out product side think are the competitive disagree losses at I Libre. premise I'm going our non-insulin is population, third-party looking XX prescriptions and I'm of I'm of X primarily which

of great And to our opportunity kind it segment. opportunity. maintain of share a one. AID to this is a participate very So nonetheless, in the smaller bit I the little what this market results but important a patient an leadership and a which have we here our the do segment here in objective share is But think more little as dominance and our is population, a more system. bit of actively a is

of also users. year. XXX,XXX to for an XXX,XXX opportunity gain a there's So existing starts There's share

think showed proposition benefit dual opportunity data sensor ketones, this we some with value sensor dual a the system. showed AID the a for or at ATTD bring of to analyte analyze safety that I the that year

year as then And And it's I whether the value connectivity Libre progresses, we'll X whether product or So occur, that's with streaming think with a compelling think plus, going here. the we're our all a proposition. it's I pump Libre. see working companies to be

it's segment exists. for to this to to I the basal an that don't eye that So on new think the and we're us focusing opportunity as ball is -- off But in. area be we're relates a it taking compete our going that

So.

Congratulations then the any been for internal But And the that with replacement between on team Maybe questions just you to opportunity And the approval. Understood. just TriClip triclip on on on strategy of thoughts breakdown? there's the some Tier a anything share market. wanted replacement tricuspid pricing around opportunity the ask setting patient Voke. and in then it's transcatheter patient breakdown premium. device can at a significant competitor pricing, TriClip

I'm not going comment competitive pricing on to our just for strategy reasons.

it -- novel are technology. a and is We differentiated

is see have there So plays all there we'll but opportunity, out. this an how to

focusing got focused think and patients and about poke surgery. good. going trying what's post if now. right a replace and accounts have very real on and obviously up, record feedback be the has is submissions guess here and think safety a off part start the view all I key nice safety yesterday we're here the initial growth. probably stuff of real product driver less, A some of use. trial, that's you're repair on And I at a cadence What just our and is real-world were strong, and getting We're excellent I from I couple in weeks. NTAP it's shown and but from feedback this there to And the of most cases happening. both going ramped growth is clinical cases cadence options. that mean post that I great a after physicians pivotal team breakdown here coaching to believe You've on got TriClip trials nice of what's our I my is with. that to

So versus I think role that's key going determining replace. to here repair play a in

I be unless remaining repair replacement is obviously, expect the to too are only the damaged TriClip preferred or the option. valves and then at least So option

but there's a here. -- patients of large So pool

in it's here the be to data, million the going here we'll got of people You indication And be X globally, opportunity people expand million an U.S. the generating X product. that more

easily a is we billion this and clinical capabilities think opportunity we as data. I the us as build more for here So build $X

Steed will come from Our next Travis question BofA from Securities.

Congrats is can back a still sounds well. little the we're the kind quarter. And Maybe for get that a And bit like question this is pipeline, pre margins? talk about that good Aveir.It really of covered to right well. you on gross while going gross on had to on the then the pace just margins about product kind as is opportunity of think Trying levels? term to I longer

share think to I the of ability it well it's we system, ability replacement, know mean, we mean market. about retrievability, chamber, think I the we're the the and I done very longer-lasting well. over at Yes. I single know advantages U.S. dual it's all the has done now upgrade competitive XX it's whether perspective, a for battery, very from single chamber

doing quarter our year. towards ramp-up first chamber procedures doing this been Seen a we nice here. very -- the well. end over that's So last performed started kind dual It's of of

devices -- the about have real procedure, about like probably it's been meaningful is you on XX first have is This right? years, these Focus here really is completely really how I change in think if you implanted. how mean this a time done. a different

been So thoughtful platforms platforms has impact up, and on for some historically, training, well our down. new with focus flat some us. here see the CRM our business relatively is going Real getting great opening rate. very about mean approach really going working I here you And that's been our results. growth and could clinical centers

a program growth, mid-single So goal X%. this contributor least with digits, X%, portfolio our was at here to get to our to be CRM

we've X.X%. So done these of last couple quarters,

well the doing has and to get to accounts. more more and Aveir better increase so continue just of amount been and we get as trained going And it's to

impact on have and this CRM our So business was other cadence your I What portfolio. going to the of forecasting we're that really like how it's the question?

cadence margins, is you cadence Just the this to kind the the think is path long over gross about way right back on kind of to And levels about that? that year's -- right term? thinking of peak this over the

I mean a that's I Yes. cadence. good think

forecasting of being about I when. that. this about here about year. I basis this feel not question if, think XX just talked question of points of a a good improvement we're I've

opportunity So I time, while things gross at And think are can cost our cetera. teams obviously things can cost Travis, service and levels, quarters, cost et is last focus has we So margin. not mid-teens on gross mix, is are that's to through control a at not orders, results expand high biggest that you the our bad And over just delivering we a probably here, same the we to that working great the back the real business X have on that consistently strong our medical gross the we're that the our But teams improving cadence. on have the They're impact right? portfolio growing margin. whatever running control. and device to going maintaining when margin here,

lot So of cadence, margin, we're focus on targeting. can that's control a what what the we our gross

when. really it's question of a So just a it's of not if, question

Vijay next question Evercore from from will You Kumar come ISI.

us pipeline, growth, premium I'm X-part question. When med is look ask A curious there? the of the sustainability of when Robert, on at what the of on elaborate people I questions lot you a gives tech confidence could that industry. within had on if future, the a you pipeline, us growth else sustaining but

the raised, little on the I'm curious from was $X.XX increase? FX. higher. bit came modeling on on looks Prior guidance guidance like the FX And in financial that just my why Did side. a end is EPS of increased. I headwind It the high headwinds FX suspect second to questions not headwinds part some a

Yes.

I whole and us through said, challenges one pipeline. Phil on you I'd your they're I'll listen, them just and TriClip, they bucket I pipeline, say a But think, this I a growth from still Alinity, multiple still has let our January CardioMEMS. great contributors, protality, got operate still hour would that are question got and innovations got of one. with mean answer going that there. could going MitraClip, products innings test, opportunity they're products, early is on your the still as into of and X great categories. early through them Yes, that they still FX We projects I but Vijay, characterize Libra in their On certain these you got right? rate like all established, of them. Navitor I pipeline familiarity concussion As Amulet, guess are remain current there lot would them. innings. got like spend I I

second The products, I call group of near-term contributors. future probably would

coming in it about starting generate to market kind the think to months, of to these XX XX there. So revenue products and next

and bringing Lingo and very that excited Our to the that product, expanding them about U.S. globally. I'm

very thinking a developing XXXX, I catheter, market pacing and our that emerging leadless on kind mean, whole our then of segment markets Our the sensor, Esprit, leveraging doing leadless the of a be about and We're system drug-eluting capital-efficient to Volt our way dual Alinity It catalyst target will a and don't And to we stent currently working kind system, XX- the That's bioabsorbable is that in, that. and then of its there'll the the And great kind. have system position PFA on beyond come in be analyte -- we that launching. we're which knee. new will our with RF another of that first got there. next XX-month for it there. opportunity below you participate biosimilars into be bringing will just more

the applications new a of out second-generation excited of new to plethora IVL We've in expand of entering all bio it's come doing whether XXXX. have different systems we're that And We're Coronary whole got on that, in a have the XXXX. clinical it's us also on analytes then that start kind top We mitral. work branch TAVR, Amulet, in our to wearables sometime that market segments. TAVR to LAA, whether indications, whether other in DCB. will in and working about in to market, into out market allow expand it's

obviously you terms pipeline. beyond, feel question pipeline FX, do the add. that. There's looking I'd I'd your do want XX to to then and So looks more Phil, take And on that good next really XX I I products we've here say, we think of really in nice at base think a cadence real about say, 'XX, the and of 'XX, excited 'XX, this We're to need I months. and got, that? the here But

Yes.

X.X% of current guidance. in organic with we Vijay, the through the at in headwind have and at we earnings rates, to So top that in midpoint and at onset EPS perspective from here a saw kind on paid drop earnings I QX, guide the is That X.X% we a rates growth, here, on about QX the in of sales mentioned increased line sales headwind about it's here on current kind the something full similar a the line. the performance on said, year

Wuensch question Citi. next from from will Joanne come Our

X quarter. compliments And add questions congratulations my upfront. may right and have the to I I

one benefit I'd that stuff. you strategy is of the impact concussion testing. understand first and good love all that, think the kind go-to-market on financial to The how for about

I is big think bit little a more my question second picture.

post-pandemic you of sort it about you taking years here do mean you I sit As step and at all a segment you of think Or level incredibly And keep? out a to these couple seat, environment strong in how a look are put do back sheet. into an we how do to balance CEO the the think next want to cash it? that about to when How work? take adding divisions you

Sure.

test, here point-of-care I the summarize in On the twofold. concussion guess opportunity I'd

team a kind care emergency where that X method here that ER to get already have to in this, on CT transform one emergency there's with faster to a point a other our mentioned to a have The segment. that there that concussion. some to think number blood think that [indiscernible] is X which market other diagnose and are assays I room gas an response million there's of there I a Joanne, position to component opportunity good And scan. visits of the is I conversion of allow provide visit, we use

slide okay, going be, is value bend to So the proposition team. here that that we I can the curve. cost And system think will then into right this just what's the of cost

we've to nice there, shown when it to able look opportunities at to if and about a Libre, do our at comes have at look I we'll I look it have conversion Binax at we think pricing how and Joanne, think products the market if how we things, think return bit a for little about be you that you we our shareholders.

part. I that's think So important an

technology that a blood, The to venous we to require you capillary the a we're this if a from at And going taking concussion that need the draw. opportunity market assay, can rapid the some a draw. then on now, you Right think, where products a from working a product. run be. be finger still test whole to sample have, look for bringing then even but going I it's If closer finger work expansion prick, approved on stick would can is

universities If many you many just in how schools look high at in this exist this how multiplications you some country, can do exists there. country,

expansion And market is great a so, okay, creation, opportunity. market

and of be how I the there. in terms So conversion done creation/expansion. about commercially, claims some trials think product that, There's we're to the the it, that's and and work more thinking

see segments. other multiyear balance and segments? is all like X about to nice X And will segment. the growth to kind this answer program of question And like So your -- that then a over the is, portfolio here, was And sheet. the be we we kind will start we the in that do of a this yes,

get building And we make diagnostic can sure capitalize and portfolio where all diagnosis. on health great a tested. of good and that to obviously to different locations the a been modalities real system of we've you health. whole, need we've feel a as with starting that that expanding We care happen and unique a on then on us things got the get nutrition. But bedrock types gives into can it people That's view the

know And got then problem business. device -- run what the knows medicines once we through to either treatment, through or do business. is, they medical And once that right? we physician our then through a

X and trends I in the well super health care. all So to segments aligned think are demographics global

accelerate we've we that you feel opportunities mentioned, we're got us yes, to top and strong that asset. really long And our some those or add, bring value shown we felt about can that's trying are that about can St. on felt We that Jude. that. deals, And like help as of the strategic add we growth that always There's We some think and feel believing But about and do if that Alere. gap that we as we've rates. kind they value of felt a can CSI. I sheet that kind as to to reshape balance We like value, fill bring to obviously areas so we there flexibility like in and not we a predicated issues. that we Then like line that combination. can company

for ROIC So matters, us profitability matters.

that in, and we So shareholders, we've little selective well bit long-term to been X more I be be they've But like especially shareholders. and our opportunities, segments add. got can a to we're the to able

Our will Matt come Barclays. Miksic next question from from

in particularly the on strong really the quarter, congrats And devices.

One some of as talk much in review most these build-out could as strategically, new it. Triclip. obviously, coming this leading a some I of about Structural little of the you little -- portfolio device the -- category bit sort still and in the of Robert, a about like on the portfolio a appreciate the So talked of products portfolio but those kind well being momentum is mature bit the had by organically little bit background. in these And question the a augmented peer more heart, recently, for of one of of follow-up structural being under I combination on if or Heart. the sorry you kind how MitraClip of in

I comments on down, mean and didn't is that the I we're be mean, growth. to my that wasn't X Sure. there construed others mitral the like slowing drive relying I want to on intent.

leader here that that's And an be And an had need. this attractive But always wanted a high it's digits. is you if at been doing what the quarters, area single we And digits. of area you this digits, good. single at to it's that's quarter, look of If look X high a growth, double low between MitraClip medical here. view last attractive we

structural organic MitraClip, portfolio. call founding the the can think bringing job father an we I has into the innovation guess of done portfolio. But I MitraClip, here yes, incredible So team heart our at

digits. you all for rest it at But mean, our portfolio today. came other XX% X% accounted the that's of heart, MitraClip single we high rest that the from being built. XX% So structural of grew look grew The if the I growth. --

that more bucket on I'd pipeline. think innovating continue good I clinical say there's to continue really and was you'll our So and a business, in doing you just that to sustainably going say it. inorganically, is organic, is I opportunity. strategy one a And we this that. if to make be here We've building double TAVR at multibillion-dollar If whole do it's question right we're the last that same over or here LAA, for think now, us Joanne's of job in trial only that all opportunity in And more listen, the there. the X the grow and at I'd very our But I which it it digits. to We've whether I the was build most to side is investments answered to can the We'll it. the continue heart a makes looking that is sense. product. kind make say, replacement. Pendine way years, probably I of we're do X investments on division that put mitral teams transapical business exciting think have see that a structural product, an the the we're innovating there's X add done got can't that system. flexibility And to of can launched

implanters, transfemoral great, first the that is a man this we've is transseptal system Cephea feedback early is from early that great in and seen valve. Our

also. So opportunity there there's an

organic, most makes but say if it capacity I'd inorganic got the for we So sense.

Operator, more question, we'll take one please.

UBS. final question And come Antalffy from our Danielle will from

on growth spent we Robert, the time year. the the strong business. start congrats to And of durability lot of yes, tech talking in about a a med

guys that how So following question regarding sort you of guess up med to of Joanne's want balance within it on Abbott do I all? -- where in have areas strong at state you Are are just med isn't Abbott leave looking today? sheet. And your today? do And there today greedy, do growth in the there tech or too business you you don't just could any to I'll but participate if the tech a should get markets, I feel areas about are participating current one. feel that maybe beyond

talk triangulation more that look about for terms attempt here we yes, interested. in bit jumped for here a ways, have this. Medicines the to capital-efficient probably look and was that in We more the way of how we business, I'll at We get different probably I looking in boring a I did that I'd are areas terms multiple public a at Sure. biosimilars at I out little side. a guess I've say can pretty do that, ones add sign diagnostics and and to. the study been us value at for in the medical of side it. strategy are on the device and

So we're yes, looking.

It's study It's I'm going continue here sit but to and to exactly. We that. this. not telegraph

liquidate here quarter, key to allows did be the selective. is we did think our and I little business this X quarters, tech mean, med at previous -- a me more I look just thing bit that

about to us months, med large early acquisition. attractive the areas. Over talked transactions tech fairly with some technology growth couple the Those in last the space. seen of we've CSI access some to IBL be I seem getting

and But don't financial other that terms So right, got are like we pay on. metrics feel go key attention to important, rate that us strong in need growth out strong it's area because in we've I us to focus that not with that's for of important that for organic medtech. to our an ROICs and growth

We the to tell balance we at. be can moment acquisitions. You a looking the out lot. value me show if got exactly They and a that you specific lot. segments have makes lot. segments record drive study look for that sheet and us to there's continue what track we've a team. can And here [indiscernible] interesting, we're an these those active get sense of won't telegraphing We What we I is a

leave as to financial that That looking feel we've strong And growth other flexibility. such do pay kind mean like of and we've pipeline line a can we're just key I'll Yes, that. don't I attention and So I top that got doesn't great that prospects. because returns got it. we it at

So with that, I'll leave it like that.

strong accelerate sales double-digit another the strong to years made don't doing 'XX, close I'll guidance generating we're the several productive, to and saying 'XX. areas. delivered outlook visibility strong of are organic all new the given business. pipeline top tier clear outlined, by pleased growth Typically, in this The first real all on continues pipeline comfortable our during growth a approvals We base remainder performance so to in year. got the are to that, highly The results. way us Obtained I've we're to of those to that that investments returns. quarter with And we we've very very the in start to be help the felt out just the certain quarter. and product deliver year, as But well going the we've less positioned continue very of raise COVID sustainably

for I'll So all us of with up joining you thank that, and wrap today.

Investor Central Abbott's webcast Relations website will for joining after call you you, Thank a.m. replay today. call. for abbottinvestor.com. conference available today on be Thank and questions. This thank now you operator, A of all your concludes Abbott's this XX Time us at

call. This your concludes for today's you Thank conference participation.

wonderful a have day. Everyone, disconnect. now may You