Abott Full-Year Report 2023

Highlights

For the full year, Abbott’s worldwide sales were $40.1 billion, up 11.6% organic, excluding COVID-19 testing-related revenue. Reported sales decreased 8.1% due to the anticipated decline in COVID-19 testing-related revenue.

  • Sales for the fourth quarter of 2023 reached $10.2 billion, an 11.0% organic increase, excluding COVID-19 testing-related revenue, driven by Medical Devices (up 15.4% organic; 17.5% reported) and Nutrition (up 13.9% organic; 12.2% reported).
    • FreeStyle Libre sales increased 24 percent organic (25.5% reported) to $1.4 billion.
    • In December, Abbott announced U.S. Food and Drug Administration (FDA) approval of the company’s laboratory automation system, GLP Systems Track, which helps laboratories optimize performance and safety to better meet the growing demand for diagnostic testing.
    • In January, Abbott announced that Tandem Diabetes Care’s t:slim X23 insulin pump is the first automated insulin delivery system in the United States to integrate with Abbott’s new FreeStyle Libre 2 Plus sensor.
    • In January, Abbott announced that the first-in-human procedures were conducted using the company’s new Volt Pulsed Field Ablation (PFA) System to treat patients with heart rhythm disorders such as atrial fibrillation (AFib). These procedures were part of Abbott’s Volt CE Mark clinical study.

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