Abbott Executive Says Volume-Based Procurement In China Impacted Core Lab Business Sales; New OTC Glucose Monitor Lingo's 2-Sensor Pack Is Most Popular In U.S., With U.S. Reorder Rates Higher Than U.K.
Portfolio Pulse from Benzinga Newsdesk
Abbott's core lab business sales have been impacted by volume-based procurement in China. Meanwhile, in the U.S., Abbott's new OTC glucose monitor, Lingo, is performing well, with its 2-sensor pack being the most popular and reorder rates higher than in the U.K.
October 16, 2024 | 1:27 pm
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NEUTRAL IMPACT
Abbott's core lab business sales are negatively impacted by volume-based procurement in China, while its Lingo glucose monitor sees strong performance in the U.S.
The news highlights two contrasting impacts on Abbott: a negative impact on core lab sales in China due to procurement policies, and a positive impact in the U.S. with strong sales of the Lingo glucose monitor. These factors may offset each other, leading to a neutral short-term impact on Abbott's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100