• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Global sales for Abbott’s diabetes biz jumps 33% in Q4

January 24, 2018 By Sarah Faulkner

AbbottWorldwide sales for Abbott‘s (NYSE:ABT) diabetes business jumped 33% in the fourth quarter of 2017, the company reported, driven largely by its FreeStyle Libre continuous glucose monitoring system.

The device is the only CGM system on the market that is calibrated at the factory and eliminates the need for people with diabetes to perform routine fingersticks.

In the fourth quarter, Abbott launched its FreeStyle Libre system in the U.S. and this month the device was made available to Medicare patients, after the Centers for Medicare & Medicaid Services determined that the device can be classified as a therapeutic CGM.

The company’s diabetes care business reeled in $413 million in total sales for the fourth quarter of 2017 as part of its $1.4 billion in diabetes revenue for the full-year.

The Ill.-based medical device maker topped expectations on The Street with its fourth quarter and full-year 2017 earnings. The company reported losses of $828 million, or 50¢ per share, on sales of $7.6 billion for the 3 months ended Dec. 30. Abbott’s bottom-line fell 203.8% while sales jumped 42.3% compared with the same period last year.

Adjusted to exclude one-time items, earnings per share were 74¢, slightly ahead of the 73¢ consensus on The Street, where analysts were looking for sales of $7.4 billion.

In the full year, Abbott posted profits of $477 million, or 27¢ per share, on sales of $27.4 billion, seeing its bottom-line shrink 65.9% while sales grew 31.3% year over year.

After excluding one-time items, earnings per share were $2.50, in line with the consensus, where analysts were expecting to see sales of $27.2 billion.

Want to stay on top of DDBN content? Sign up for our e-mail newsletter for a weekly dose of drug-device news.

Filed Under: Diabetes, Featured, Patient Monitoring, Regulatory/Compliance, Wall Street Beat Tagged With: abbott

IN CASE YOU MISSED IT

  • Omnipod 5 rollout for type 2 rolls on as Insulet pursues next-gen automation
  • LifePlus reports clinical validation of non-invasive glucose, blood pressure monitor
  • Abbott Diabetes head talks Medtronic partnership, exciting times ahead
  • PharmaSens, SiBionics innovatively combine tech in all-in-one insulin patch pump
  • Study backs Biolinq intradermal sensor in muscle loss prevention during GLP-1 therapy

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS